Steven A. Altman and Caroline R. Bastian have in the Harward Busineds Review published an article on the state of globalization in 2023. This the summary.
Plummeting flows of trade, capital, and people at the beginning of the Covid-19 pandemic prompted a wave of speculation about the end of globalization, and Russia’s invasion of Ukraine brought even more predictions of a retreat toward national self-sufficiency. But, according to research for the latest DHL Global Connectedness Index, international flows show no signs of a sustained downturn.
The data shows a broad pattern of decoupling between the U.S. and China, but the flows of countries that are geopolitically aligned with the U.S. and China do not — at least yet — indicate a broader split between rival blocs. Nor is there evidence that globalization is giving way to regionalization. While companies do need to adjust for heightened geopolitical tensions, they should not abandon global strategies. Corporate deglobalization, in fact, could be a riskier path than making focused adjustments to mitigate geopolitical risks.
To read the article click here
Source:HBR
UK Government has announced an extension of the use of CE mark for businesses. As expected.
”The Government is tackling red tape, cutting burdens for business, and creating certainty for firms – we have listened to industry, and we are taking action to deliver”
”By extending CE marking use across the UK, firms can focus their time and money on creating jobs and growing the economy”
Business Minister Kevin Hollinrake
Source:UKGOV
Electronic Trade Documents Act has received Royal Assent. In a significant step towards embracing the digital era, the Electronic Trade Documents Bill is set to revolutionize the landscape of international trade in the UK and beyond.
Proposed by the Law Commission of England and Wales, this bill aims to grant electronic trade documents the same legal treatment, effects, and functionality as their traditional paper counterparts. With this progressive legislation, the UK is on the path to unlocking the full potential of electronic trade documents and ushering in a new era of efficiency and security.
Read UK Governments impact assessment here: HMG Impact Assessment
Sources: HMG, AmeliaJones
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