It's sad that while a very thoughtful video essay failed to mention the importance of protecting the environment for future economic stability. Short-sightedness will make the world a darker place in the future.
@KELLI2L2 Just to be clear are you trying to say the climate crisis is a real problem exploited by the elites for money and power? In that case i do agree to some extent or do you really believe it's one big conspiracy because there's heaps of strong scientific evidence to debunk that claim. Covid is a very small crisis compared for what awaits us when our natural ecosystem collapses, its just more gradual.
Unfortunately this renewed nationalism may hamper global coordination and accountability in ensuring the sustainability of supply chains as individual nations race to reindustrialisation.
@@VincentZwane The earth's ecosystems have suffered greatly during globalisation. Bringing production back home to countries with higher environmental standards is necessary. Hoping authoritarian countries would follow labour and environmental standards has failed. No surprise- no carrot, no stick, no monitoring, fake certificates...
"It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is most adaptable to change" -- Charles Darwin
@Thomas Headley Charles Darwin and Adam Smith's discoveries have been invaluable to the development. Most people do not understand how important their findings are.
@K D The modern concept of eugenics was proposed by Charles Darwin’s half-brother Francis Galton on the basis of Darwinism and Darwin’s theory of natural selection, not by Darwin himself. In fact, Darwin opposed Galton’s idea, believing that it would endanger the instinct of sympathy, “the noblest part of our nature”. Following Darwin’s death, eugenics supporters have cited Darwin’s theories to promote eugenic policies that went against Darwin’s humanitarian principles.
A global economy based on the idea of infinite growth. Infinite growth of the human population, infinite growth of consumption, infinite extraction of resources. On a planet that is finite. What could possibly go wrong?
@AN N That is why each country must do what is best for themselves instead of worrying about other countries and what they do. If I see something that says "made in China" or "made in Pakistan", I simply refuse to buy it. No more. I am done with these foreign nations robbing our economy and destroying our small businesses.
@@purplenights1 But here's the problem, the rest of the world can also refuse to use the US dollar, why use the US dollars if you can't sell your products in America. The world is so complex my friend, it's either nationalism or globalization no in-between
In a world with infinite human ingenuity spread across five continents. Think of how much food a farmer could grow in the middle ages vs now. Yes we have more cars but they pollute less than they used to and some don't emit anything. Our future involves clean solar and wind energy with battery storage and possibly fusion power. Nuclear fission plants can help the transition to clean energy because they don't emit any CO2 and the waste problem is about to be solved.
El reportaje habla sobre la globalization, no habla nada sobre el fin de la especie. Te lo voy resumir : Ustedes los denominados paises ricos dejaron que China se convertira en la fabrica del haciendo que cada year tuviera un superavic comercial inundando los mercados mundiales con sus productos. Si quieres mas informacion ve el video en Netflix Vaya historia sobre el auge de China.
@@davidparra8248 china solo tendrá su mercado que si es potente pero manufactura llegará o será relocado en países que no sean China Los productos de china son de muy baja calidad en todo respectos y no hay muchos materials o procesos que no se puedan hacer en otros países con mayor producción Los Estados Unidos en toda probabilidad tuvo esto en cuenta pero con todos los males que tienen los E.U, ellos no tienen mucho que perder
Anthony Meza Pffft, Get your facts right. Facts are omnipresent. It takes seemingly forever for humans to shed their belief system blinders to finally discover the facts.
i mean globalization has shaped the modern world the people you see, meet, form relationships with, the food you eat, the technology you use, and so much more. Unfortunately more local might be what the world needs right now by necessity
Local supply chains have lot of sense, emissions wise... I still remember this story - British seafood shipped to Thailand - and back - just to have the shells removed
@@NyanyiC The problem is they don't want immigrants to remove the the shells, they want to be paid to remove the shells but for livable wages in the West. Only the problem is, that would make the seafood too expensive for most people to buy. It's sort of a circular problem. A lot of old blue collar workers who were left behind, refuse to understand their old style manufacturing jobs are gone forever. You can bring the work back but it will be automated. I suppose the only way they will understand is when all of it is automated in the west and nothing it done overseas and they still don't have jobs.
Ask British people to remove the shells makes more sense? How much do you paid for that? How many labour can you recruit? Not even mentioned the labour law. That's why globalization existed, because it makes more sense, business wise.
@@NyanyiC But the immigrants already in the UK perhaps don't want to do that work. I suspect the Thais have figured out how to get the shells off and aren't going to tell anyone else how. Wise people. Globalisation shows us that the ones with the IP, tech and know-how stay on top, so long as they stop others thieving their property.
“There are no nations! There is only humanity. And if we don’t come to understand that right soon, there will be no nations, because there will be no humanity.” ― Isaac Asimov
On the contrary there is no "humanity." There is no "world." There are discrete cultures and nations, and any fantasy to the contrary can only exist when one country (lately us, the U.S.) is in charge. What a coincidence that America losing it's sole hegemony has also led to the breakdown of globalization, accelerated by Covid.
Here's hoping that it does. Globalization destroyed local economies in it's favor, and I'd much prefer to have a subdued local economy over a booming globalized one.
Yeah i'd rather have a strong self sufficient economy even if it means paying more for tvs and clothes, the current system benefits mostly thoses with large disposable incomes who aren't spending 80% of their salary on food and rent.
@@zammit1683 Value means everything in times of having nothing. You'll find some of the most rewarding people to be around have nothing to offer but themselves.
@@TheREDACTED141 because not all difficulty provides opportunity. Sometimes a difficulty is a result of missed opportunity. Before Covid we already have Ebola and MERS, but we didn't prepare with these two lessons as opportunities.
0:51 Clothing/garment industry 9:27 The “on-demand economy” 13:38 “The broader solution is to make interdependence work, with resilience. That’s the challenge that global leaders face today.”
@@princevelkan295 What are you talking about? Slavery it's long gone and ppls will never agree to something like that, let's me guess tho, Bill gates will control everyone's minds with chips?
It will never happen. It’s like asking the Spanish Inquisition to forgive a witch, no way. They need to set an example in case anyone else chooses to release secrets.
Though most of us thought globalization would likely be a largely positive force, we did not anticipate then that globalization could gradually become dangerous, infectious and hard to control.
This may result in the development of regional trade networks instead of long haul supply chains. Were seeing trade deals like ACFTA, the CPTPP and the EU reaching out to Asia in Japan and Vietnam. It may stagger development temporarily, but it will result in a more multipolar world of large developed economic blocks instead of the current unipolar or bipolar world of the US and China
It not convincing to say reaching Japan and Vietname could be solution. Let us keep our fingers crossed. Those countries are as far away as China in terms of supply chain length. And Nationalism is fundamentally about the suffering of the local bluecollar workers due to golbalization and pupulists who hate geting robbed of local jobs by any foreigners and welfare shared with immigrants.
Everyone MUST wholeheartedly believe in the greatness of PM Boris Johnson and his Government so that we can get through this horrible pandemic That's the only option. BACK BORIS who is our national hero and the greatest person in British History. I condemn those who refuse to unreservedly support him.
@Nicholas L British person here, what did Boris Johnson achieve as PM that makes him greater than any other PM? Standing against one of the vilest regimes of modern history? Oh wait, that was Winston Churchill. Implementing the NHS? Oh wait, that was Clement Attlee. Boris’ half-hearted response to COVID-19 doesn’t stand up to these. (No, I do not believe Winston Churchill was perfect. Yes, I am aware of his actions regarding British India)
I've always been sceptical of globalization, and as you see with today's world all the power of trade is held with a tiny number of companies and nations. More nations around the world need to become self sufficient so when the world gets hit hard by a global problem, they can survive.
@@ritdhar6579 I agree some nations it would be impossible, but others can cut down consumption on certain things, or just cut back completely. There are so many materials and products traded we just don't need
@@jamesmacdonald1116 yes sir true. But look at the broader picture. If you don't buy enough or you only buy the things you need then other countries which sell them will face problems. In other words, your profit is someone else's loss. Now this is the mother of all problem, because they also do the same to you, cut back of sales, increase tariffs and start a trade war. Also if countries become self sufficient, they will also block global internet players like facebook and google and make their own facebook and google, much like china. So their will be localisation in internet as well. But most countries cannot afford them so they will be owned by the super powers. For example india is banning chinese apps. They are instead making 'made is india' apps. Now if china hits back, india will have to hit back. But india's economoy will not permit it and will try and become an ally of america who will in turn try to exploit india. All in all, pure mismash is what that awaits us.
What is expected to happen to swaths of factory workers in asia, once north america and europe migrates to expected manufacturing automation. They are supposed to build self supported, consumer/services led models. Will China play the part of more mature economy and support the emerging nations as it was supported in it's own days of development? It seems most economists are not talking about how asia will emerge as an ecosystem which supports it's own growth?
I really hope that a focus on regionalism leads to governments consolidating regional organizations and strengthening them to create less regional disparity, not only in the economy but in formal political institutions, the rule of law and infrastructure.
They are not mutually exclusive. Its cheaper to have automation than expensive first world labor but automation is still more expensive than setting up industries in developing nations which they may in the future be prevented from doing. Any time you increase the cost of business you reduce margins available for reinvestment; investment in capital and research and development creates innovation which drives long term economic growth. The Economist is saying they will be forced to adopt innovation in this area (automation) which artificially increases costs reducing investment and innovation in other areas.
I came here to watch the B.S The Fake "News" comedy special again... Always telling me what to think instead of thinking by my self. Voting for Trump now!
I think we are so into globalisation there's no way back. Our cultural goods are all global. Internet created a global culture that will overcome the hurdles of financial crisis, pandemics, nationalists governments and stock market change. What is problematic is the wealth distribution. This polarisation will have dire consequences
Local communities should become more self-sufficient in terms of Energy, Food, and manufacturing. With technologies such as Solar/Wind, Indoor farming, and 3D printing, it is getting more achievable at a certain level.
Thanks for sharing, very interesting information about Globalisation from its begining up to now. It´s a very big challenge for our western countries because these ones have been placed in the far eastern world. We have forgotte that money is not all
Aside from applying for open positions, how does one get involved in researching &/or writing for a magazine/organization like The Economist? I like the scope of the video. Some of the historical data takes me back to the trends we students [at the time] were identifying while in school.
it must be hard and sad to think that job opportunities, employments, businesses fades away before our very own eyes. We must admit that during this trying times we depend on our government to help us get us through, while we are not aware that our government economic suffered on its own. The occurrence of pandemic did not at all about struggle however it is a challenge for us ; world leaders, businessman on becoming optimistic about the situation, Indeed globalization is in its dark phase but will not stop there, it will just slow down as expected, i agreed with what the economist think about the future of globalization those who will survive this crisis are people who works independently and becoming resilient over time. For instance buying locally made products will boost the economy of one’s country. Due to travel restrictions people may have the time to visit its own country’s tourist attractions this means more income for small businesses eventually will stay afloat.
11:30 "...that the world will move to a post-industrial economy and leave them behind" Ive been saying that for years. Domestic Automation is going to destroy the hand-shake bargain promised by globalisation
Everything going on right now in the world is only what already exists in the hearts of those people involved. They concern themselves with earthly and materialistic and flesh reasons and they dont have their eyes toward the skies, the riots, murders, rapes, drugs....all there because it's in the hearts of those involved. This is just the beginning of the times of sorrows. Never in History have we experienced so many things all indicative of the times. Plagues, pestilences, riots, and the sea is in dismay. Nation against nation, kingdom against kingdom (within the nations multiple kingdoms reside and live in) and no leadership. No leadership unless you know who Jesus Christ really is and what Jesus is today. The great falling away is happening. The pope is trying to unify religion, which in itself is the works of satan. Bible preaches FAITH, not works. Faith is of the heart, THEN one can do "works" . Read your bible people. If you cant see just how accurate and valid it is, I advise you to read. Be blessed, Thanks preacher, You are a big part of opening my eyes.
Do you guys even know what "globalisation" means? It's much more than just a global economy: it's movement of people, it's cultural interchange, it's an interchange flora and fauna, of diseases and pathogens, of information. It means colonisation and decolonisation, it means a world ever in flex because of an ongoing exchange of ideas. Reducing this to just a matter of economy not only seems extremely short-sighted and narrow-minded, denies history, suffering, and cultural renaissance, but also seems arrogant and Americentric, in a way that only American capitalism can be. Sure, Covid may reduce the global flow and migration of people, but there are many aspects of global culture that remain unaffected by the current pandemic.
Yes, please!!! Inspite of its horror, this crisis has had some positive side effects. May one of them be a move forward to a world where every one respects nature, consumes locally and in sustainable amounts !
@@ish562 And the United States is planning to do to Africa what it did to Latin American, most of Asia and the Middle East. And we all know what that is. (Spoiler alert: it might not go quite according to plan for Captain America this time around though).
I missed the part where they defined "globalization". Globalization is not controlled by governments anymore, it's done by corporations. 12:20" If corporations create world wide monopolies, is that not globalization? Most people would say it is.
Those who are against globalization and AI today will be the most disadvantaged in the future. Think about what happens when you subsidize Blockbuster to stay afloat against Netflix. It's at best a slowing of the inevitable. But if you don't artificially support Blockbuster and allow for Netflix innovation, there will be more GDP and inequality. So the conversation requires coupling the support for free markets with some form of universal basic income.
There will always be extremists who feel hatred for others. Even simply bullies. So many people get bullied daily and we haven't been able to stop all of them. We have a long path to go to create strong connections of love and care among people. We can start by being caring and loving to the people around us.
Ok then you must start by giving up your free time and extra money to help those. That's how it works. It's easy to say this basic stuff but when it comes down to you, there's always excuses. "I don't have as much money as these guys". "I need to look after my children". The only thing that works is abiding by the law. Thats why the magna carta created in England, and the US constitution are very amazing tools that really changed the world
Zara's regional sourcing model seems proper to automotive parts industry too. Similar to fashion trend change, quality issue or design change can bring big loss on those parts under delivery of 40 days.
I assume Covid as a strong Flu which has occurred every year. Usual Flu may be able to be fatal or no-symtom by the situation at first contact. If the person health was bad or in cold outside, it can be serious, this seems same to Covid. Covid is just seemed little more dangerous. About Vaccin, did we have omnipotent Vaccin for all kind of Flu ? Absolutely No. But now it seems we expect omnipotent Covid Vaccin. Is it possible?
look I'm very happy I live ..; I'm very grateful I've got this very beautiful gift ... BUT ... one thing needs to happen and very quick and that's DEPOPULATION .. this is in my opinion the number ONE source for a LOT of problems and tensions
Not every country CAN become self-sustaining, with very few exceptions. The U.S. could probably do it. They have domestic access to everything they need for manufacturing. The problem is making all those resources last.
Focusing on 🇧🇩 Bangladesh's 🇧🇩 garments sectors and its financial hard times during this pandemic offers me an exclusive glimpse into the sector plus its employees who are exploited at the sector.
The Supreme Archailect globalisation will continue, just more fragmented, it’s already being divided into US and China dominated parts of the globe. And China is moving very fast to build and interconnect their part of the world.
@john smith less fox news mate, thinks are not as simple as right-wing populist portray them to be. Which of course is well known to every highly educated person
Global trade doesnt serve national interest in the US, Capitalism and Efficiency are absolutely useful once they are confined to a more regional system like NAFTA or ASEAN.
Everyone MUST wholeheartedly believe in the greatness of PM Boris Johnson and his Government so that we can get through this horrible pandemic That's the only option. BACK BORIS who is our national hero and the greatest person in British History. I condemn those who refuse to unreservedly support him.
People produce and have way too much things that we don't need like excessive amount of clothing, foods, electronic devices, and other materials just lying around and hasn't been used for years on end. Besides think about all the damages manufacturing does to the environment, that's why minimalism is the way to go. Away with consumerism and greed.
There are flaws in the underlying system. In the underlying values. The system needs to be adjusted, rich people need to be more emphatic (LOL) or the system needs to change. I dont support communism, but there are huge flaws with current capitalism
The angst is on the existing system which is truly flawed in many ways (around the world). 60% of the people in the worlds richest economy are living on day to day wages before covid. 30% unemployed right now. This isnt 'extreme left' change is needed
I wish we could just break the internet eternally. As my great-grand-uncle Normal Filsk used to say, "The less you know, the better. The more you know, the worse."
Ah but how can one achieve such liberation in a simple fashion these days? I am working on it though the fruits of my labour have yet to be fully realised. Thank you, brother, for the concise words of wisdom. You are right.
Everyone MUST wholeheartedly believe in the greatness of PM Boris Johnson and his Government so that we can get through this horrible pandemic That's the only option. BACK BORIS who is our national hero and the greatest person in British History. I condemn those who refuse to unreservedly support him..
Evolution towards two disparate worlds, one authoritarian, the other democratic, seems locked in. Decoupling of tech and hardware should lead to faster tech and hardware improvement. Like any warfare, unrestricted digital war should push tech development to the limit.
The Uk brings nothing to the table except its financial sector which is infested with white collar crime anyway. We hardly produce anything. The UK is on its last legs, the massive empire it is built on won't sustain it for the long term.
@@ZahdShah don't agree with that. It will not be easy for UK in 5 first years but they will manage. And my personal opinion at least the main topics are gonna be decided locally, in the country. Not by EU. Which is so far away from average human.
Globalization itself is a very disturbing thing which will only benefit the rich but not the nation. If any nation has to get benefit they should focus on agriculture or food and transportation majorly which help any nation self sustain even at odd times
Hello to my fellow students who's watching this because of educational purposes
hi
bello
It's sad that while a very thoughtful video essay failed to mention the importance of protecting the environment for future economic stability. Short-sightedness will make the world a darker place in the future.
KELLI2L2 you liar
It is never far sighted which guidance human nature. Politicians take advantage of that.
@KELLI2L2 Just to be clear are you trying to say the climate crisis is a real problem exploited by the elites for money and power? In that case i do agree to some extent or do you really believe it's one big conspiracy because there's heaps of strong scientific evidence to debunk that claim. Covid is a very small crisis compared for what awaits us when our natural ecosystem collapses, its just more gradual.
Unfortunately this renewed nationalism may hamper global coordination and accountability in ensuring the sustainability of supply chains as individual nations race to reindustrialisation.
@@VincentZwane The earth's ecosystems have suffered greatly during globalisation. Bringing production back home to countries with higher environmental standards
is necessary. Hoping authoritarian countries would follow labour and environmental standards has failed. No surprise- no carrot, no stick, no monitoring, fake certificates...
"It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is most adaptable to change" -- Charles Darwin
Darwin was a eugenics supporter. Think about that before you use his quotes as if it excuses forced globalization.
@Thomas Headley Charles Darwin and Adam Smith's discoveries have been invaluable to the development. Most people do not understand how important their findings are.
@K D The modern concept of eugenics was proposed by Charles Darwin’s half-brother Francis Galton on the basis of Darwinism and Darwin’s theory of natural selection, not by Darwin himself. In fact, Darwin opposed Galton’s idea, believing that it would endanger the instinct of sympathy, “the noblest part of our nature”. Following Darwin’s death, eugenics supporters have cited Darwin’s theories to promote eugenic policies that went against Darwin’s humanitarian principles.
@@KD-qp3gc professional basketball is a product of eugenics, throw it out
@siddharth siddharth he never said that thank you
buy quality instead of quantity........ we don't need so many cloths and other items
Sell said
0 virus
Poor people can't afford quality. So we do need quantity
Maj
fact
A global economy based on the idea of infinite growth. Infinite growth of the human population, infinite growth of consumption, infinite extraction of resources. On a planet that is finite. What could possibly go wrong?
@AN N That is why each country must do what is best for themselves instead of worrying about other countries and what they do. If I see something that says "made in China" or "made in Pakistan", I simply refuse to buy it. No more. I am done with these foreign nations robbing our economy and destroying our small businesses.
@@purplenights1 But here's the problem, the rest of the world can also refuse to use the US dollar, why use the US dollars if you can't sell your products in America. The world is so complex my friend, it's either nationalism or globalization no in-between
In a world with infinite human ingenuity spread across five continents. Think of how much food a farmer could grow in the middle ages vs now. Yes we have more cars but they pollute less than they used to and some don't emit anything. Our future involves clean solar and wind energy with battery storage and possibly fusion power. Nuclear fission plants can help the transition to clean energy because they don't emit any CO2 and the waste problem is about to be solved.
@moroccamman moroccanman yea but you will be long dead before space travel ever becomes even remotely feasible
@moroccamman moroccanman it's very far, keep dreaming man
“Extinction is the rule. Survival is the exception.”
― Carl Sagan
@Lars Chue dont facts derive from humans
Lol
Give me a break
"We're in trouble"
- Arnold Rimmer
El reportaje habla sobre la globalization, no habla nada sobre el fin de la especie.
Te lo voy resumir : Ustedes los denominados paises ricos dejaron que China se convertira en la fabrica del haciendo que cada year tuviera un superavic comercial inundando los mercados mundiales con sus productos.
Si quieres mas informacion ve el video en Netflix Vaya historia sobre el auge de China.
@@davidparra8248 china solo tendrá su mercado que si es potente pero manufactura llegará o será relocado en países que no sean China
Los productos de china son de muy baja calidad en todo respectos y no hay muchos materials o procesos que no se puedan hacer en otros países con mayor producción
Los Estados Unidos en toda probabilidad tuvo esto en cuenta pero con todos los males que tienen los E.U, ellos no tienen mucho que perder
Anthony Meza Pffft, Get your facts right. Facts are omnipresent. It takes seemingly forever for humans to shed their belief system blinders to finally discover the facts.
Less global, more local. That sounds just like what the world needs.
Yeah all politics are local
That's what Elinor Ostrom said, but people have apparently forgot her Nobel...
i mean globalization has shaped the modern world the people you see, meet, form relationships with, the food you eat, the technology you use, and so much more. Unfortunately more local might be what the world needs right now by necessity
@@jellyhero623 i sAid the same too and can globalisation can help cure covid
Too late, your great great great grandparent should have stopped the global colonization.
Fast fashion has to go, period.
Listen to yourself child
In my life it is slow fashion already lol ;)
what is wrong with having new clothes?
@@konigstiger3252Google "fast fashion and environment". Then get back to me :)
@@tonysamaniego7875 another tree hugger, get a life
Less the global trade, higher the risk of conflicts.
I agree.
Yes? so how can you relate to the fact that world war 1 started at the pic of globalization at those times?
@David Jones get help.
@David Jones Wowww, you're so edgy!!!!
But globalization leads to internal conflicts. So can not say that it is better.
This video should be a documentary at least an hour long. All the scnearios that were exposed in this short video give so much food for thought.
Local supply chains have lot of sense, emissions wise... I still remember this story - British seafood shipped to Thailand - and back - just to have the shells removed
🤣 That's just ridiculous. Those immigrants they don't want so much will happily do such jobs
@@NyanyiC The problem is they don't want immigrants to remove the the shells, they want to be paid to remove the shells but for livable wages in the West. Only the problem is, that would make the seafood too expensive for most people to buy. It's sort of a circular problem. A lot of old blue collar workers who were left behind, refuse to understand their old style manufacturing jobs are gone forever. You can bring the work back but it will be automated. I suppose the only way they will understand is when all of it is automated in the west and nothing it done overseas and they still don't have jobs.
Yes this article omitted this growing call.
Ask British people to remove the shells makes more sense? How much do you paid for that? How many labour can you recruit? Not even mentioned the labour law. That's why globalization existed, because it makes more sense, business wise.
@@NyanyiC But the immigrants already in the UK perhaps don't want to do that work.
I suspect the Thais have figured out how to get the shells off and aren't going to tell anyone else how. Wise people.
Globalisation shows us that the ones with the IP, tech and know-how stay on top, so long as they stop others thieving their property.
“There are no nations! There is only humanity. And if we don’t come to understand that right soon, there will be no nations, because there will be no humanity.”
― Isaac Asimov
On the contrary there is no "humanity." There is no "world." There are discrete cultures and nations, and any fantasy to the contrary can only exist when one country (lately us, the U.S.) is in charge. What a coincidence that America losing it's sole hegemony has also led to the breakdown of globalization, accelerated by Covid.
This kind of crude universalism does not exist outside Western elite circles. It is not universal. Humanity is a non-political concept.
Asimov was wrong. Without nations the world would be in an even worse mess than it is now.
Here's hoping that it does. Globalization destroyed local economies in it's favor, and I'd much prefer to have a subdued local economy over a booming globalized one.
Yeah i'd rather have a strong self sufficient economy even if it means paying more for tvs and clothes, the current system benefits mostly thoses with large disposable incomes who aren't spending 80% of their salary on food and rent.
EF Schumacher
“Strive not to become a man of success, rather strive to become a man of value.” - Einstein
Yes
There we go. Go sub to my channel then ♡
Value is goin to be something meaningless when everyone has nothing...
@@zammit1683 Value means everything in times of having nothing. You'll find some of the most rewarding people to be around have nothing to offer but themselves.
Capitalism doesn't agree with that.
“In the middle of difficulty lies opportunity.”
--Albert Einstein
OPPORTUNITY MIGHT GO TO THE PARTY THEY WANTED TO HURT..THAT THEY HAVE NOT FORSEAN ,WHO WILL FALL,THAT IS THE QUESTION!
@@TheREDACTED141 because not all difficulty provides opportunity. Sometimes a difficulty is a result of missed opportunity. Before Covid we already have Ebola and MERS, but we didn't prepare with these two lessons as opportunities.
In Chinese the word crisis is 危机, which if translated character by character, means “crisis and opportunity”.
Que cantidad de estupices dices
The replacement is Cyberisation
0:51 Clothing/garment industry
9:27 The “on-demand economy”
13:38 “The broader solution is to make interdependence work, with resilience. That’s the challenge that global leaders face today.”
Slowbilization isn’t a thing Gretchen, stop trying to make it a thing.
Stop trying to make fetch happen!!
it will be a new world for sure, but then you never enter same river twice. -- Heraclitus
What’s that from?
@@nobodyherepal3292 : Slavery. It kept happening overtime in planet Earth's History.
@@nobodyherepal3292 g c⁰
@@princevelkan295 What are you talking about? Slavery it's long gone and ppls will never agree to something like that, let's me guess tho, Bill gates will control everyone's minds with chips?
@@princevelkan295 That's true
We need to cut back you dont need a Gucci bag to survive.
But gucci bag provides employment
Some people do 😅
Stop expressing extreme statements.
Ah, but goods are the natural selection of copulation and reproduction. Try to propose with a seashell necklace.
Let Gucci sell their products in their own country.
FREE JULIAN ASSANGE
It will never happen. It’s like asking the Spanish Inquisition to forgive a witch, no way. They need to set an example in case anyone else chooses to release secrets.
Actually the inquisition found witches to be mostly nonsense.
@@subswithnovids-rz6rz they were guilty because they came from Satan, to the wall or under the bus.
Hillary clintons emails saved the world
Though most of us thought globalization would likely be a largely positive force, we did not anticipate then that globalization could gradually become dangerous, infectious and hard to control.
Some have hailed the virus as a potential cure for the damaged planet.
The merits of Globalization is equivalent to its demerits. At least something that strikes a balance.
The virus is probably an headstart to economic independence.
@@kristian.or.levites2545 economic and financial independence.
I guess now we have to see the essence of financial independence.🤨
This may result in the development of regional trade networks instead of long haul supply chains. Were seeing trade deals like ACFTA, the CPTPP and the EU reaching out to Asia in Japan and Vietnam. It may stagger development temporarily, but it will result in a more multipolar world of large developed economic blocks instead of the current unipolar or bipolar world of the US and China
It not convincing to say reaching Japan and Vietname could be solution. Let us keep our fingers crossed. Those countries are as far away as China in terms of supply chain length. And Nationalism is fundamentally about the suffering of the local bluecollar workers due to golbalization and pupulists who hate geting robbed of local jobs by any foreigners and welfare shared with immigrants.
0:30 Slowbalization, wow... i cant stop laughing...
A word i never heard hope it speeds up lol
All I see is covid snowbalization
Everyone MUST wholeheartedly believe in the greatness of PM Boris Johnson and his Government so that we can get through this horrible pandemic
That's the only option. BACK BORIS who is our national hero and the greatest person in British History.
I condemn those who refuse to unreservedly support him.
Nicholas L shut up bot
@Nicholas L British person here, what did Boris Johnson achieve as PM that makes him greater than any other PM? Standing against one of the vilest regimes of modern history? Oh wait, that was Winston Churchill. Implementing the NHS? Oh wait, that was Clement Attlee. Boris’ half-hearted response to COVID-19 doesn’t stand up to these.
(No, I do not believe Winston Churchill was perfect. Yes, I am aware of his actions regarding British India)
"The shroud of protectionism has fallen. Begun these Trade Wars have." /s
Underrated comment
Hahaha amazing
Wise words, Master Yoda.
The shroud lifts on the fallacies of Free Trade.
I vote no confidence
Very professional video. Solid piece of journalism here.
I remember our School Teachers talking about Globalisation in 1970's. Didn't like the idea even then. Even less so now! UK lost so many jobs!!
I've always been sceptical of globalization, and as you see with today's world all the power of trade is held with a tiny number of companies and nations. More nations around the world need to become self sufficient so when the world gets hit hard by a global problem, they can survive.
It may look easy on the book but it is actually not. How can you be self sufficient if you don't trade?
@@ritdhar6579 I agree some nations it would be impossible, but others can cut down consumption on certain things, or just cut back completely. There are so many materials and products traded we just don't need
@@jamesmacdonald1116 yes sir true. But look at the broader picture. If you don't buy enough or you only buy the things you need then other countries which sell them will face problems. In other words, your profit is someone else's loss.
Now this is the mother of all problem, because they also do the same to you, cut back of sales, increase tariffs and start a trade war.
Also if countries become self sufficient, they will also block global internet players like facebook and google and make their own facebook and google, much like china. So their will be localisation in internet as well. But most countries cannot afford them so they will be owned by the super powers. For example india is banning chinese apps. They are instead making 'made is india' apps. Now if china hits back, india will have to hit back. But india's economoy will not permit it and will try and become an ally of america who will in turn try to exploit india.
All in all, pure mismash is what that awaits us.
@@ritdhar6579 All of that sounds wonderful. A little isolationism sounds great right about now. Also we won't exploit India.
self sufficiency in the 21st century is a myth
Greedy corporations and politicians robbed lower and middle class, Prices kept going up while wage gap remained the same.
I think you mean the average wages, the wage gap has become massive but I can see your point
What is expected to happen to swaths of factory workers in asia, once north america and europe migrates to expected manufacturing automation. They are supposed to build self supported, consumer/services led models. Will China play the part of more mature economy and support the emerging nations as it was supported in it's own days of development? It seems most economists are not talking about how asia will emerge as an ecosystem which supports it's own growth?
China will end up owning those countries because those smaller countries will be desperate and China will use that to it's advantage.
Ive said for decades we in uk need to return to manufacture and seld suffieniency
I really hope that a focus on regionalism leads to governments consolidating regional organizations and strengthening them to create less regional disparity, not only in the economy but in formal political institutions, the rule of law and infrastructure.
Humans never learn any "right" lesson.
>Slobalisation will stifle innovation
>Factories will be highly automated
Pick one.
Innovation means creating something new. The new automated manufacturing is based on currently existing technology. Im guessing thats what they meant.
They are not mutually exclusive. Its cheaper to have automation than expensive first world labor but automation is still more expensive than setting up industries in developing nations which they may in the future be prevented from doing. Any time you increase the cost of business you reduce margins available for reinvestment; investment in capital and research and development creates innovation which drives long term economic growth. The Economist is saying they will be forced to adopt innovation in this area (automation) which artificially increases costs reducing investment and innovation in other areas.
I came here to see what the Elite wants me to think.
Me too! hahaha
@@hiagoaquino4374 Eu também 😂😂😂
I came here to watch the B.S The Fake "News" comedy special again... Always telling me what to think instead of thinking by my self. Voting for Trump now!
at least they think
Always suspicious from anything coming from the midia
who benefited from globalization, see were the money went including the economic stimulus debt, the big reset will make us even poorer
Deep and a thoughtful approach to pandemic effects on globalization ! Greetings from the Brazilian rainforest in Manaus.
@Hello Ramiro how are you doing?
Disappointing that climate change isn't mentioned once.
We don't need alarmist agenda in a neutral source
Woah! I was literally postponing an essay about corona and globalism while bumping into this video! I’ll use it now :)
How did the paper go? Currently in the process of starting mine lol
@@nancyhuerta7944 25/25! This video really helped me out whew.
Great video, even tho it misses the mark. But they wouldn't know.
haha same.... essay life :/
SLOBALIZATION... & TARIFFS... DEGLOBALIZATION... LOCALIZATION...
SUPPLY CHAIN RISK...
DISTANCE = TIME...
TRENDS ON DEMAND...
6 MONTH-BULK ORDERS... SPLINTERIZATIONS...
TOP 10%... INNOVATION...
SAD... DEPRESSING...
ZARAS...
Forgot to add one morething.
WAR
The world set back to 1970 ....
Yeah 1970s had pretty much a globalised world economy.
should be set back to 1660 tbh
@@ViscountWoodspring nah thx I love the Internet and not dying al 15
@@rusitoexplorador cringe!
@@ViscountWoodspring Cringe what?
No mention of environmental issues anywhere?
no
@@mashallarius hello there
you have made it into our English class
@@milanbognar509 bruder ich weiß
@@milanbognar509 HAHAHAHA
I think we are so into globalisation there's no way back. Our cultural goods are all global. Internet created a global culture that will overcome the hurdles of financial crisis, pandemics, nationalists governments and stock market change.
What is problematic is the wealth distribution. This polarisation will have dire consequences
why The Economist is China centered
Money
because US soon enough, won't keep up with China
I get increasingly more interested in Politics and Economics, even when I understand almost nothing about it.
Local communities should become more self-sufficient in terms of Energy, Food, and manufacturing. With technologies such as Solar/Wind, Indoor farming, and 3D printing, it is getting more achievable at a certain level.
Self sufficiency is the sure fire path to poverty. Free trade makes us all wealthier.
You should read "The Accidental Superpower", " The Absent Superpower" and "Disunited Nations" by Peter Zeihan.
I can see a positive side to sloblisation.
Hopefully NOT !
I hope it does
On the bright side, less globelisation = less needless shipping= less harmfull emissions
Thanks for sharing, very interesting information about Globalisation from its begining up to now. It´s a very big challenge for our western countries because these ones have been placed in the far eastern world. We have forgotte that money is not all
thanks for making this video
Aside from applying for open positions, how does one get involved in researching &/or writing for a magazine/organization like The Economist?
I like the scope of the video. Some of the historical data takes me back to the trends we students [at the time] were identifying while in school.
I see these “problems” as an absolute win. The earth needs it’s reckoning.
it must be hard and sad to think that job opportunities, employments, businesses fades away before our very own eyes. We must admit that during this trying times we depend on our government to help us get us through, while we are not aware that our government economic suffered on its own. The occurrence of pandemic did not at all about struggle however it is a challenge for us ; world leaders, businessman on becoming optimistic about the situation, Indeed globalization is in its dark phase but will not stop there, it will just slow down as expected, i agreed with what the economist think about the future of globalization those who will survive this crisis are people who works independently and becoming resilient over time. For instance buying locally made products will boost the economy of one’s country. Due to travel restrictions people may have the time to visit its own country’s tourist attractions this means more income for small businesses eventually will stay afloat.
no globalization isn't going anywhere the work that's been done in asia for 10 dollars a day will be done in africa for 5 dollars a day
Keep your globalisation...cheap shoddy plastics and one use goods (mass waste) ... Bring back quality and longer life goods
11:30 "...that the world will move to a post-industrial economy and leave them behind"
Ive been saying that for years. Domestic Automation is going to destroy the hand-shake bargain promised by globalisation
Reduce Taxes to help grow Businesses...!
Everything going on right now in the world is only what already exists in the hearts of those people involved. They concern themselves with earthly and materialistic and flesh reasons and they dont have their eyes toward the skies, the riots, murders, rapes, drugs....all there because it's in the hearts of those involved. This is just the beginning of the times of sorrows. Never in History have we experienced so many things all indicative of the times. Plagues, pestilences, riots, and the sea is in dismay. Nation against nation, kingdom against kingdom (within the nations multiple kingdoms reside and live in) and no leadership. No leadership unless you know who Jesus Christ really is and what Jesus is today. The great falling away is happening. The pope is trying to unify religion, which in itself is the works of satan. Bible preaches FAITH, not works. Faith is of the heart, THEN one can do "works" . Read your bible people. If you cant see just how accurate and valid it is, I advise you to read. Be blessed, Thanks preacher, You are a big part of opening my eyes.
the spice must flow.
Do you guys even know what "globalisation" means? It's much more than just a global economy: it's movement of people, it's cultural interchange, it's an interchange flora and fauna, of diseases and pathogens, of information. It means colonisation and decolonisation, it means a world ever in flex because of an ongoing exchange of ideas. Reducing this to just a matter of economy not only seems extremely short-sighted and narrow-minded, denies history, suffering, and cultural renaissance, but also seems arrogant and Americentric, in a way that only American capitalism can be. Sure, Covid may reduce the global flow and migration of people, but there are many aspects of global culture that remain unaffected by the current pandemic.
Yes, please!!! Inspite of its horror, this crisis has had some positive side effects. May one of them be a move forward to a world where every one respects nature, consumes locally and in sustainable amounts !
And beleis in Santa and the tooth fairy perhaps?
It is silly to think that globalization will end. How can we live without globalization? We just need each other in all aspects.
Africa is almost not even considered in all of this...
China is all over Africa for those resources alongside the Europeans...
nah they got polio to worry about, not this cheap virus
@@ish562
And the United States is planning to do to Africa what it did to Latin American, most of Asia and the Middle East. And we all know what that is. (Spoiler alert: it might not go quite according to plan for Captain America this time around though).
@Kukara Ur raceist
And in the future gold will be found in africa
I missed the part where they defined "globalization". Globalization is not controlled by governments anymore, it's done by corporations.
12:20" If corporations create world wide monopolies, is that not globalization? Most people would say it is.
The tower of Babel stalls once more
Those who are against globalization and AI today will be the most disadvantaged in the future. Think about what happens when you subsidize Blockbuster to stay afloat against Netflix. It's at best a slowing of the inevitable.
But if you don't artificially support Blockbuster and allow for Netflix innovation, there will be more GDP and inequality. So the conversation requires coupling the support for free markets with some form of universal basic income.
a well put together piece but remember to mention that de-globalization helps the *environment* enormously
Endless growth on a finite planet means collapse on some point.
Ooooo! Nice one! Will borrow it somewhere sometime for sure. You don't need a job to eat. You just need to plant some seeds
I dont care . I want everyone to live happy life from east to west. Just help each other . Love each other
too late for that buddy, apparently
There will always be extremists who feel hatred for others. Even simply bullies. So many people get bullied daily and we haven't been able to stop all of them. We have a long path to go to create strong connections of love and care among people. We can start by being caring and loving to the people around us.
Ok then you must start by giving up your free time and extra money to help those. That's how it works. It's easy to say this basic stuff but when it comes down to you, there's always excuses. "I don't have as much money as these guys". "I need to look after my children". The only thing that works is abiding by the law. Thats why the magna carta created in England, and the US constitution are very amazing tools that really changed the world
@@connortroxel8869 It is never late for compassion, Not to mention that we are all doomed but whatever....
Zara's regional sourcing model seems proper to automotive parts industry too.
Similar to fashion trend change, quality issue or design change can bring big loss on those parts under delivery of 40 days.
I assume Covid as a strong Flu which has occurred every year.
Usual Flu may be able to be fatal or no-symtom by the situation at first contact. If the person health was bad or in cold outside, it can be serious, this seems same to Covid.
Covid is just seemed little more dangerous.
About Vaccin, did we have omnipotent Vaccin for all kind of Flu ?
Absolutely No.
But now it seems we expect omnipotent Covid Vaccin. Is it possible?
look I'm very happy I live ..; I'm very grateful I've got this very beautiful gift ... BUT ... one thing needs to happen and very quick and that's DEPOPULATION .. this is in my opinion the number ONE source for a LOT of problems and tensions
Give SARS-2 and other Chinese-produced virii time to do the job!
Excellent roundup for students of business, economics and company executives.
every country should become self-sustaining. the only things that need to be traded should only be luxuries.
At least incentivise what is possible to grow locally.
Not every country CAN become self-sustaining, with very few exceptions. The U.S. could probably do it. They have domestic access to everything they need for manufacturing. The problem is making all those resources last.
That would be very inefficient. The world would definitely be worse off if we ever tried that, which we thankfully aren't.
9:15 == not true at all; distance does not equal time at all....transport as a percentage of the time to manufacture a garment is insignificant,
We needs the exact name and address of the culprits, then only will we be able to stop all this bullcrap.
Focusing on 🇧🇩 Bangladesh's 🇧🇩 garments sectors and its financial hard times during this pandemic offers me an exclusive glimpse into the sector plus its employees who are exploited at the sector.
I hope not, as would any reasonable person
You're wrong and insane, no sane person support (that kind of) globalization.
The Supreme Archailect globalisation will continue, just more fragmented, it’s already being divided into US and China dominated parts of the globe. And China is moving very fast to build and interconnect their part of the world.
as an alternative you get self-sustained bunch of countries around the globe. This model was tried and is very inefficient economically speaking.
@john smith less fox news mate, thinks are not as simple as right-wing populist portray them to be. Which of course is well known to every highly educated person
Globalisation as it currently stands, is a mess. At the least, it needs to be re-evaluated and refreshed.
9:20 That's basically nonsense. This large brands have shops all over the world, so manufacture close to home does not really exist.
Let's hope so. Capitalism and efficiency has hurt people, jobs and the environment.
Global trade doesnt serve national interest in the US, Capitalism and Efficiency are absolutely useful once they are confined to a more regional system like NAFTA or ASEAN.
The US should not import any products that don't comply with worker fair wages, health, safety, environmental laws and the right to unions.
Everyone MUST wholeheartedly believe in the greatness of PM Boris Johnson and his Government so that we can get through this horrible pandemic
That's the only option. BACK BORIS who is our national hero and the greatest person in British History.
I condemn those who refuse to unreservedly support him.
And still capitalism is the only system that can work
@@cae2525 Not without government bailouts.
People produce and have way too much things that we don't need like excessive amount of clothing, foods, electronic devices, and other materials just lying around and hasn't been used for years on end. Besides think about all the damages manufacturing does to the environment, that's why minimalism is the way to go. Away with consumerism and greed.
There are flaws in the underlying system. In the underlying values. The system needs to be adjusted, rich people need to be more emphatic (LOL) or the system needs to change.
I dont support communism, but there are huge flaws with current capitalism
The angst is on the existing system which is truly flawed in many ways (around the world). 60% of the people in the worlds richest economy are living on day to day wages before covid. 30% unemployed right now.
This isnt 'extreme left' change is needed
@@muzzamilnadeem3104 unfortionately this cutthroat capitalism drives growth and spurs innovation (not as amazing as ppl make it seem).
Thank you. Excellent video.
I wish we could just break the internet eternally. As my great-grand-uncle Normal Filsk used to say, "The less you know, the better. The more you know, the worse."
@Pomfrit Gaming Very true but can often lead to a less stressful/depressing life.
No one is asking you to use the internet. Just don’t use it.
Ah but how can one achieve such liberation in a simple fashion these days? I am working on it though the fruits of my labour have yet to be fully realised. Thank you, brother, for the concise words of wisdom. You are right.
So what we, as individuals, can do about this?
From nepal third world country
❤️ thanks for info
nepal is a beautiful country.
@john smith Yes, John Smith is a very typical Chinese name, oh wait...
Do the right things....Stay safe, stay healthy!!
Caught, hook, line and sinker
Kindly Focus on the Quality of Yours !
@Hello Masood how are you doing?
Question is, could we really go back to regional production ?
Globalization down, Silk Road up. Kind of GLOBALIZATION 2.0
Everyone MUST wholeheartedly believe in the greatness of PM Boris Johnson and his Government so that we can get through this horrible pandemic
That's the only option. BACK BORIS who is our national hero and the greatest person in British History.
I condemn those who refuse to unreservedly support him..
Britain is the greatest country in the world led by the greatest PM in British History
@@nicholasl7836 Anglo-Saxon geopolitics create refugees then let Europe to deal with them, what a great country.
The economist what great contents
Automation and artificial intelligence play the role here.
Intelligence can Never be artificial,
low-intelligence is real.
Evolution towards two disparate worlds, one authoritarian, the other democratic, seems locked in.
Decoupling of tech and hardware should lead to faster tech and hardware improvement.
Like any warfare, unrestricted digital war should push tech development to the limit.
This is very interesting report. Easy to understand. Thank you
“It's not you, its me.”
― COVID19
Arnel Catangay Jr lol 😂
Best comment!
what's the track name started at 9:50?
Watch UK economy with no deal brexit...we will go back to making goods ourselves.
The Uk brings nothing to the table except its financial sector which is infested with white collar crime anyway. We hardly produce anything. The UK is on its last legs, the massive empire it is built on won't sustain it for the long term.
@@ZahdShah don't agree with that. It will not be easy for UK in 5 first years but they will manage. And my personal opinion at least the main topics are gonna be decided locally, in the country. Not by EU. Which is so far away from average human.
@@darinakalinova2180 UK is a dead country
Globalization itself is a very disturbing thing which will only benefit the rich but not the nation. If any nation has to get benefit they should focus on agriculture or food and transportation majorly which help any nation self sustain even at odd times
I hope so
Last line was brilliant!