Globalization’s cheerleaders grasp for new buzzwords at Davos - BusinessWorld Online

World Economic Forum/Pascal Bitz

“We cannot let globalization reverse,” said Jim Hagemann Snabe, chairman of German industrial powerhouse Siemens AG . “I will not leave Davos with that thought. I will leave with the thought that we will need more collaboration.” “Multilateralism works!” said German Chancellor Olaf Scholz: “It is also a prerequisite for stopping the deglobalization that we are experiencing.”Not all are unhappy with how globalization has frayed since the last time officials and executives gathered in January 2020, just before the coronavirus pandemic took off.

It also fueled a loss of manufacturing jobs in developed economies like the United States and Europe, a trend Guedes derided as a “global labor arbitrage” he sees coming to an end.

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