The Challenges of Industrialization for Economic Development
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Globalization is not dead, but it is fading, as highlighted in an analysis by The Guardian . The global economy is deeply fractured, with risks of turning out badly in 2024. However, a new paradigm called glocalization is emerging, which involves shorter supply chains, an emphasis on domestic manufacturing capacity, and a more strategic role for government. The shift towards onshoring previously outsourced production has been accelerated by recent events. Industrial policy, including a green growth plan, is no longer a dirty word. There is interest in Labour's plans to boost the supply side of the UK, and Nick Stern believes there is a potential sweet spot where demands for stronger growth and the fight against global heating intersect. AI can act as an accelerator to help developing count...
#newstr #Industrialisation #EconomicDevelopment #Megatrends #Manufacturing #DigitalAutomation #Globalisation #EcologicalBreakdown #PowerAsymmetries #TransnationalCorporations #IndustrialPolicy