All articles tagged with #globalization
Dutch photographer Martin Roemers’ Homo Mobilis surveys about 200 vehicles across eight countries to explore how transport reveals owners’ identities, cultural values, and social inequalities—from rooftop gardens on cars in India to homeless-car living in the U.S.—and ends with depictions of scrapped vehicles to underscore mobility’s impermanence.
Beijing is leveraging Trump-era tariffs to push about 20 trade deals and deepen ties with major blocs (EU, CPTPP, GCC, Africa) to insulate its $19 trillion economy from U.S. pressure and shape a China-centered multilateral order, though concerns over overproduction and sluggish domestic demand complicate the effort and some partners remain skeptical.
Anta Sports has agreed to acquire a 29.06% stake in Puma SE for about €1.5 billion ($1.8 billion), financed entirely with internal cash, with closing expected by the end of 2026. Anta will seek representation on Puma’s supervisory board while preserving Puma’s brand identity and independence, and it says it currently has no plan to make a takeover offer, though a deeper partnership could be explored in the future.
At Davos, Vice Premier He Lifeng framed China as a defender of the rules-based international order and globalization, urging partners not to retreat from free trade despite U.S. tariff threats and restrictions, while highlighting China’s plan to boost domestic demand and keep expanding its role in world markets.
Trump arrives at Davos with one of the largest U.S. delegations as debates over globalization, tariffs, and the future of multilateral institutions intensify, signaling a new reality for the world order even as leaders stress dialogue and note shifts in partnerships (e.g., EU-Brazil trade talks and Canada–China signals).
Branko Milanovic discusses the decline of neoliberal globalization, the rise of China, the emergence of a new global elite, and the shift towards national market liberalism, highlighting the increased inequality, geopolitical tensions, and societal discontent that may lead to further instability, all within a framework of long-term observable trends and critical analysis of capitalism's moral shortcomings.
Chinese leader Xi Jinping emphasized China's commitment to defending global free trade at the APEC summit, which was overshadowed by President Trump's absence and their recent trade agreements, highlighting ongoing tensions and cooperation efforts in the Asia-Pacific region.
The global trading system, historically based on free trade principles and managed by institutions like the WTO, faces significant challenges due to US protectionist policies under Trump, China's rise, and geopolitical tensions, leading to potential shifts towards regional arrangements and coalitions that may reshape international trade dynamics.
JP Morgan Chase CEO Jamie Dimon acknowledged that President Trump was right to delay implementing tariffs, criticizing the pattern of threatening and then backing down, known as 'TACO,' but warned this complacency may not last forever amid ongoing trade tensions and tariff threats.
President Trump extended the deadline for his worldwide tariff plan, aiming to reverse globalization and boost domestic manufacturing, but skepticism remains among CEOs and foreign leaders about his commitment to the August 1 deadline.
Chinese Premier Li Qiang emphasized the importance of international collaboration on trade, urging countries not to politicize or securitize trade issues, and expressed confidence in China's economic growth and global integration despite challenges.
Despite Trump's trade disputes and tariffs, globalization continues to drive growth in the world's largest companies, with US firms dominating the Global 2000 list and overall economic gains persisting, though concerns about trade wars potentially impacting future growth remain.
A U.N. report reveals that while affluent nations have recovered their pre-pandemic levels of well-being, half of the world's poorest countries, including Nigeria, Pakistan, and Sierra Leone, continue to lag behind. The report warns of a widening gap between the richest and poorest nations, exacerbated by political polarization and a rise in armed conflicts. It calls for greater financial support for global public goods, such as vaccine development and climate change mitigation, and emphasizes the need for reforming globalization to address environmental concerns and the needs of heavily indebted developing nations.
Brazil's finance minister called for a "new globalization" focused on addressing poverty and climate change at the G20 meeting, but conflicts in Ukraine and Gaza threatened to overshadow the agenda. The G7 discussed seizing frozen Russian assets to aid Ukraine, while Brazil aims to prioritize fighting poverty and climate change, alleviating debt burdens, and increasing taxes on corporations and the super-rich. The meeting also addressed the urgent need for financial assistance for Ukraine and the potential economic risks of the conflict in Gaza.
European farmers are protesting in major capitals, highlighting their struggles with the impact of globalization and environmental regulations on their livelihoods. The push for cheaper food and stricter environmental measures has left Western farmers unable to compete with cheaper imports, leading to calls for concessions from policymakers. The EU's "farm to fork" strategy aims for dramatic changes, but the challenge lies in balancing the demands of farmers, environmental lobbies, food importers, and consumers.