The trade winds that have fueled globalization, economic growth and job creation for over a generation are dramatically shifting.
For decades countries – with few exceptions – knocked down trade barriers, pursued deregulation and privatization policies across key industries and generally embraced economic integration and trade liberalization.
Building on this success, nations, international institutions and businesses continued this expansion by negotiating new and even more ambitious multilateral, plurilateral and bilateral agreements recognizing the prosperity generating power of open trade and pro-investment policies.
Progress has truly been astounding. Waves of ascending consumer classes have been fuelled in virtually every corner of the globe by greater connectivity, evolving consumer consumption habits and epochal advancements in technology and business innovation.
Canadian ice hockey great Wayne Gretzky once said the key to his success was simple: skate to where the puck’s going, not where it’s been.
Yet in some cases the orthodoxy of open borders propelled by globalization is under threat. The advent of Brexit and the election of Donald Trump in the United States have called this conventional wisdom into question.
As our assumptions about the benefits of free trade, economic integration and investment liberalization are questioned, it is now essential that businesses and governments understand, and are able to navigate, the new global dynamics that are driving risk and opportunity. The good news is that amid all the risk and uncertainty there is opportunity. And knowing where to find that growth and opportunity is the first step toward success. There is reason to be hopeful. While the 21st century face of trade is comprehensive and complex, opportunities abound in global markets like never before.
Whether you are trading in goods and services, need to better understand government procurement policies and processes, are interested in attracting new sources of investment or navigating provisions affecting intellectual property, regulatory cooperation, dispute settlement, labour or the environment, we at Export Action Global know where the 21st century curve of supply and demand is tracking and how to set you on a course for success.