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In a new era of globalization marked by geopolitical rivalries, supply chain vulnerabilities, and nationalist politics, Western companies must rethink their strategies. Answering eight questions will help managers address vulnerabilities and consider how their companies should regionalize production, reduce the scale necessary to achieve efficient production, hone their core differentiation strategies, and more. Despite the challenges, maintaining a presence in China will remain crucial.
Companies around the world are confronting a new era of globalization. The combination of geopolitical rivalries, sweeping supply-chain vulnerabilities exposed by the Covid-19 pandemic, and the rise of nationalist-centered politics foreshadows a much more challenging global trading environment. In addition, the recent U.S. election of Donald Trump as president points toward a more transactional approach to foreign relations and trade.
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