Globalization 3.0

How Will COVID-19 Impact Globalization?

Frank Diana Future Scenarios, Globalization 3.0 , , , ,

UPDATED 3:00 March 19th:  one of my Blog readers pointed me to this article titled Whatever the virus kills, it won’t be globalism. Since I am a big believer that Predictions are a fools errand, this walk through the bold post-pandemic predictions of our past is instructive. This point of view says that sounding the alarm on the death of globalization  may be a bit premature.

There are many questions that require answers as we look towards a new normal post the current pandemic. One such question centers on supply chains and the globalization phenomenon of the past three decades. Multiple forces were already threatening the globalist agenda. From the rise of populism and associated tariff wars, to the advancement of automation and other innovations, the move towards localization seems inevitable.

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Globalization 4.0

Frank Diana Future Scenarios, Globalization 3.0 , , , , ,

Within the context of the Fourth Industrial Revolution, the World Economic Forum is focused on Globalization 4.0. We are actually approaching Globalization’s Third Act. In a book titled The Great Convergence, Author Richard Baldwin describes the three constraints that have limited globalization: the cost of moving goods, the cost of moving ideas, and the cost of moving people. The first two acts of globalization occurred when the cost of moving goods and ideas dropped. While globalization raised the standard of living in several developing economies, the third constraint limited the breadth of impact.

In his closing chapter, Mr. Baldwin explores the possibility of a third act. This act is driven by dramatic advancements in areas that address the third constraint. If the cost of moving people were to drop, developing nations like South America, Africa, and others could be the beneficiaries of this third act. Globalization 4.0That aside, the World Economic Forum is looking at global risks and the need for global solutions. They identified Six Questions that must be addressed to make the next wave of Globalization work for all. They correctly state that facing future challenges requires dialog and input from all. Kudos to them for driving the dialog. The six questions are:

  1. How do we save the planet without killing economic growth?
  2. Can you be a patriot and a global citizen?
  3. What should work look like in the future?
  4. How do we make sure technology makes life better not worse?
  5. How do we create a fairer economy?
  6. How do we get countries working together better?

A very good set of questions. You can see how people responded to them by going Here.

The Journey Continues

Frank Diana Future Scenarios, Globalization 3.0, Pace, Post-Capitalism, The Third Tipping Point , , , , , , , ,

It’s been over a year since launching an Online Course focused on a complex and uncertain future. The course takes a Journey through the Looking Glass – a metaphorical expression that means: on the strange side, in the twilight zone, in a strange parallel world. It comes from the Alice and Wonderland literary work of Lewis Carroll, where he explores the strange and mysterious world Alice finds when she steps through a mirror. I have always found this to be a perfect metaphor for our times.

Every time the looking glass has appeared, the world has experienced a Tipping Point. While I firmly believe a tipping point is coming, the impact is likely a question of severity. Some believe that we have survived similar economic transitions in the past, while others disagree:

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Globalization’s Third Act

Frank Diana Future Scenarios, Globalization 3.0 , , , , ,

Globalizations Third act

Globalization could be entering its third act. In a book titled The Great Convergence, Author Richard Baldwin describes the three constraints that have limited globalization: the cost of moving goods, the cost of moving ideas, and the cost of moving people. The first two acts of globalization occurred when the cost of moving goods and ideas dropped. While globalization raised the standard of living in several developing economies, the third constraint limited the breadth of impact.

In his closing chapter, Mr. Baldwin explores the possibility of a third act. This act is driven by dramatic advancements in areas that address the third constraint. If the cost of moving people were to drop, developing nations like South America, Africa, and others could be the beneficiaries of this third act. How will the cost of moving people drop? What advancements enable this third act? In his closing chapter, Mr. Baldwin touches on enabling innovations and their fascinating potential. Here is a brief look at these innovations:

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