The global pandemic, supply chain problems, and heightened geopolitical tensions from Russia's war in Ukraine have all raised questions about whether the long trend toward globalization is being thrown into reverse. Our 2023 Long Term Capital Market Assumptions, available now, features a paper that tackles the future of globalization. In this episode, Stephanie Aliaga interviews two of the authors from the paper, Dr. David Kelly and Kerry Craig, to discuss the potential future paths of globalization, and the implications of a multi-polar world order for the global economy, inflation, and valuations.
Episode topics: History and drivers of globalization (1:18); Russia-Ukraine (8:00); future paths of globalization (9:55); global energy transition (16:40); trade in goods vs. services (19:08); implications for the dollar (21:50); implications for inflation (24:15); regional winners and loser (26:45); China (30:32); valuations and sector outlook (32:15).
We also encourage you to read the full report, linked here.