{"id":2450,"date":"2016-07-05T08:38:52","date_gmt":"2016-07-05T07:38:52","guid":{"rendered":"https:\/\/blog.iese.edu\/expatriatus\/?p=2450"},"modified":"2016-07-06T09:40:51","modified_gmt":"2016-07-06T08:40:51","slug":"globalization-attacked-as-never-before","status":"publish","type":"post","link":"https:\/\/blog.iese.edu\/expatriatus\/2016\/07\/05\/globalization-attacked-as-never-before\/","title":{"rendered":"Globalization Attacked as Never Before"},"content":{"rendered":"

\"ct-brexit-trump-boris-johnson-page-perspec-0626-md-20160624\"<\/a>This week the Euro 2016<\/strong> semi-finals and the final will be played and many football fans will be living through the decisive moments of the European football tournament, which will culminate on Sunday 10 of July. Yet, even amid all the football buzz, another decisive moment for Europe could not remain unnoticed.<\/strong> UK voted FOR Brexit!<\/strong><\/p>\n

\u2018Out of the EU and out of the Euros\u2019 \u2013 people were quick to joke, yet the real global shock is still unfolding. Although seemingly unlikely to happen (the common sense notion had continued to be that of a united Europe), the current \u2018Brexit hangover<\/strong>\u2019 provides a sensible rationale for what has happened. Brexit proponents<\/strong> promised<\/a> its voters to regain control over immigration, and redirect cash going weekly to the EU towards national health care<\/strong>. It is no surprise that, fueled by current anti-immigration sentiments and economic difficulties across Europe, such promises actually worked<\/strong>. Many media channels (e.g. here<\/a> and here<\/a>) actually agree that anti-immigrant sentiments were one of the main driving forces behind Brexit. Given the racist incidents reported<\/a> post-Brexit<\/strong>, such propositions have gained reasonable weight.<\/p>\n

But Brexit is not the only showcase of anti-immigrant sentiments<\/strong> and its possible outcomes. The world is also in anxious anticipation of a possible Trump presidency<\/strong>. Similarly to Brexit, Trump\u2019s campaign also highlights<\/strong> the debate\u2014or deep gulf\u2014between nationalists, who feel attacked and disadvantaged by globalization<\/strong>, and those that benefit from it. One interesting The Guardian<\/em> article<\/a> actually poses the question of \u2018which would you rather avoid, Brexit or Trump presidency\u2019?<\/strong> Unfortunately \u2018neither\u2019 might not be in the answers\u2019 list anymore\u2026 Yet, that would be the most sensible answer for me, as both cases follow the same trend of scapegoating globalization, immigration and multiculturalism<\/strong>.<\/p>\n

In his commencement speech<\/a> at New York University\u2019s Stern School of Business, Jeff Immelt<\/strong>, CEO of General Electric, termed such tendencies as a global rebellion against globalization<\/strong>. Decrying protectionist tendencies, Immelt calls upon pivotal transformation in global business, which would support the changes in globalization. While globalization used to be about global trade and global integration, today, according to Immelt, \u2018big companies are distrusted; governments and global institutions are failing to address the world\u2019s challenges; globalization is being attacked as never before.\u2019<\/strong><\/p>\n

GE\u2019s CEO believes that it is time for global businesses to take control and drive global changes in spite of governmental dysfunction. \u2018The one size fits all\u2019 globalization strategy is outdated<\/strong> and Immelt argues that \u2018sustainable growth will require a local capability inside a global footprint\u2019, hence companies should go local within the global environment<\/strong>. Bringing a vivid example of GE, he notes that if before they used to have one site to make locomotives, then now the company has multiple factories worldwide.<\/p>\n

The new manufacturing strategy is to open markets by \u2018making what we want, where we want<\/strong>\u2019, benefiting from appreciation for local culture and local workforce<\/strong>. Such globalization can\u2019t be shut down by protectionist policies, as Immelt says and concludes that \u2018we tend to think of globalization as a philosophy, but it is much more about what you do on the ground\u2019.<\/p>\n

The resulting implications for\u2014and current shortcomings of global leadership\u2014are only starting to emerge\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

This week the Euro 2016 semi-finals and the final will be played and many football fans will be living through the decisive moments of the European football tournament, which will culminate on Sunday 10 of July. Yet, even amid all the football buzz, another decisive moment for Europe could not remain unnoticed. UK voted FOR […]<\/p>\n","protected":false},"author":345,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18330],"tags":[96596,95110,26739,782,90250],"class_list":["post-2450","post","type-post","status-publish","format-standard","hentry","category-views-and-news-about-expatriates","tag-anti-immigrant-sentiment","tag-brexit","tag-global-business","tag-globalization","tag-trump","megacategoria-mc-leadership-and-people-management"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/blog.iese.edu\/expatriatus\/wp-json\/wp\/v2\/posts\/2450","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.iese.edu\/expatriatus\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.iese.edu\/expatriatus\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.iese.edu\/expatriatus\/wp-json\/wp\/v2\/users\/345"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.iese.edu\/expatriatus\/wp-json\/wp\/v2\/comments?post=2450"}],"version-history":[{"count":6,"href":"https:\/\/blog.iese.edu\/expatriatus\/wp-json\/wp\/v2\/posts\/2450\/revisions"}],"predecessor-version":[{"id":2457,"href":"https:\/\/blog.iese.edu\/expatriatus\/wp-json\/wp\/v2\/posts\/2450\/revisions\/2457"}],"wp:attachment":[{"href":"https:\/\/blog.iese.edu\/expatriatus\/wp-json\/wp\/v2\/media?parent=2450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.iese.edu\/expatriatus\/wp-json\/wp\/v2\/categories?post=2450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.iese.edu\/expatriatus\/wp-json\/wp\/v2\/tags?post=2450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}