The rising tide of economic nationalism has caused many observers to announce that globalization is not just in retreat, but near death. To be sure, the Brexit vote and the election of Donald Trump (as well as the popularity of various far-right European politicians) raise important questions about the future of free trade. But the future health of the multinational corporation is not in doubt. The outlook is good – but MNCs will need to adapt to some new realities.
First, let’s put to rest the idea that globalization is on life support. By every important measure other . . .