Globalization as a Driver of Prosperity

The mechanisms and drivers behind developments in geopolitics go hand in hand with the changes we are seeing in globalization. The perceived threat of a rising Global South or China as an individual actor in a geopolitical sense has prompted much of the developed world to back away from traditional globalization and pursue policies of reshoring, friend-shoring, and diversification, or, in more severe cases, precautionism, protectionism, or even outright sanctions.