The free trade vision of the past 30 years is fracturing. Russian sanctions are the latest blow, but the concept of globalization, nations trading with few barriers, has been under pressure for years.
The 2008 financial crisis, U.S.-China trade war, COVID-19 and economic nationalism prompted countries/companies to rethink their focus on world trade. By one measure, globalization peaked in 2008 when world exports hit 31% of global GDP before falling to 26% in 2020. Trade barriers and tariffs rose from $126B in 2010 to $1.5T in 2021. Trade agreements are also changing, with more focus on regional blocs such as RCEP (Pacific nations) and USMCA (North America) rather than global pacts.
The world as we know it is changing. You need to be ready. MOSIMTEC guides clients – from pharma to farming, from climate change to change management – through simulation modeling so they get the most knowledge, the most insight, and the most intelligent answers to future proof their business. Whether it’s supply chain, manufacturing, automation, process improvement or the shift to Industry 4.0, MOSIMTEC’s industrial engineers and data scientists can help. The world doesn’t wait for us to catch up to change. MOSIMTEC can help you be a leader not a lagger.
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