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Goodbye Globalization: The Return of a Divided World
A bold new account of the state of globalization today—and what its collapse might mean for the world economy After the Cold War, globalization accelerated at breakneck speed. Manufacturing, transport, and consumption defied national borders, companies made more money, and consumers had access to an ever-increasing range of goods. But in recent years, a profound shift has begun to take place. Business executives and politicians alike are realising that globalization is no longer working. Supply chains are imperilled, Russia has been expelled from the global economy after its invasion of Ukraine, and China is using these fissures to leverage a strategic advantage. Given these pressures, what will the future of our world economy look like? In this groundbreaking account, Elisabeth Braw explores the collapse of globalization and the profound challenges it will bring to the West. Drawing on interviews with prominent executives and policymakers from around the world, Braw poses the difficult questions all businesses and economies will face—and traces the intricate story of globalization from the exuberant ’90s to the embattled present.
1 pages, Audio CD
Published April 9, 2024
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Displaying 1 - 10 of 10 reviews
July 10, 2024
I feel like crying at the end of the book.
In the beginning, China joined the WTO. Then it became the factory of the world. Sure, jobs disappeared, but at least we get many goods at cheaper price, and multinationals earned tons of money.
Then China started to steal IPs and force transfer technologies. And then they actually bought Western companies. After that they are quietly expelling low-value factories from the West out. And they use trade to punish countries that crossed the CCP line. So US retaliated by limited high tech chips export to China, and passed the CHIPS act to encourage chip factories.
Then Russia invaded Ukraine. Companies and consumers boycotted it, but companies find it hard to leave and sometimes leave with great losses. And sanctions only decrease its GDP by a meagre 2%, because it can sell to China, India and Iran.
So the world is going to break into 2 trading blocs: the West and the rest.
While this is a grand narrative, I think there are points to note, some of which were also acknowledged in the book:
1. Automation destroys more jobs than globalisation. When jobs come back they will be few and very high tech.
2. Companies are actually investing both in China for the Chinese market, and other countries for the rest. In some cases, like in Vietnam, factories there have to take in lots of parts from China. It’s only the final assembly being done there. So basically is globalised trade by proxy.
3. Most countries would like to trade with everyone; only naive people would believe that we can friend-shore everything.
4. In the end, consumers choose the best value products. That’s why Chinese Electric Vehicles are so popular. By raising tariffs, Western countries are doing protectionism. This will harm consumers by raising costs, and make their industries non competitive over the long term. And it’s going to harm anti-climate change efforts. Mercedes is going back to combustion engine models, partly because of the tariffs (if EVs are cheap then more people will buy them and no one will want combustion engine cars anymore).
In the beginning, China joined the WTO. Then it became the factory of the world. Sure, jobs disappeared, but at least we get many goods at cheaper price, and multinationals earned tons of money.
Then China started to steal IPs and force transfer technologies. And then they actually bought Western companies. After that they are quietly expelling low-value factories from the West out. And they use trade to punish countries that crossed the CCP line. So US retaliated by limited high tech chips export to China, and passed the CHIPS act to encourage chip factories.
Then Russia invaded Ukraine. Companies and consumers boycotted it, but companies find it hard to leave and sometimes leave with great losses. And sanctions only decrease its GDP by a meagre 2%, because it can sell to China, India and Iran.
So the world is going to break into 2 trading blocs: the West and the rest.
While this is a grand narrative, I think there are points to note, some of which were also acknowledged in the book:
1. Automation destroys more jobs than globalisation. When jobs come back they will be few and very high tech.
2. Companies are actually investing both in China for the Chinese market, and other countries for the rest. In some cases, like in Vietnam, factories there have to take in lots of parts from China. It’s only the final assembly being done there. So basically is globalised trade by proxy.
3. Most countries would like to trade with everyone; only naive people would believe that we can friend-shore everything.
4. In the end, consumers choose the best value products. That’s why Chinese Electric Vehicles are so popular. By raising tariffs, Western countries are doing protectionism. This will harm consumers by raising costs, and make their industries non competitive over the long term. And it’s going to harm anti-climate change efforts. Mercedes is going back to combustion engine models, partly because of the tariffs (if EVs are cheap then more people will buy them and no one will want combustion engine cars anymore).
March 29, 2024
In a world that seems intent on building walls and pulling away from trade deals, Goodbye Globalization is an effective summary. Elisabeth Braw, an expert in geopolitical history and international relations, takes the reader through past, present and future events to explain where we are heading and what can be done about it.
Beginning in the late eighties and early nineties, the onset of new technologies and far-reaching global shipping was seen as a major boon by both business leaders and national governments. Cheap goods, larger labour pools to draw from and the prospect of peace through interconnected deals; the author emphasises the excitement of that time in the early chapters. Events like the fall of the Soviet Union and Deng Xiaoping opening China to the world all form pieces of the wider puzzle, creating a firm foundation for the 21st Century discussions.
Political figures, corporate tycoons and ordinary citizens all have a part to play in Elisabeth’s book with a wide array of perspectives woven into the lower page count. As business grew more wealthy and saved on labour costs, we see how western populations were left behind, their jobs being outsourced over time. The sense of perception always plays a role; globalisation may have given us cheaper goods and finer luxuries, but the overall opinion of this system has diminished over time. The middle portion of the book, the 2000s and 2010s, paints a clear picture of the shift from local communities to larger corporations. The devastation of 9/11, the construction of Nord Stream 1 and 2 and the onset of the digital age are key components here, taking us from ground level all the way to national borders.
That leads us into the final part of the book; “friendshoring”. By incorporating the progressive politics of Gen Z and unplugging from an overreliance on authoritarian nations, Braw believes the western world can stave off a downturn while maintaining our values of human rights, free markets and the rule of law. It’s a strong, well-researched idea that looks beyond the gruelling challenges that lie ahead. The world may be dividing once again into east and west, but there are still ways to maintain international cooperation. Braw concludes the book by looking back at Germany, a country with many difficult decisions to make.
Recommended?
YES: Goodbye Globalization is an honest and compact history lesson on the last three decades, but it also charts a course forward. Elisabeth Braw has a clear understanding of current events and where they are taking us, discussing all the major moments that fuelled globalisation alongside its slow demise in the 2020s. The high amount of detailed interviews and notes makes for a simple yet effective chronicle.
Beginning in the late eighties and early nineties, the onset of new technologies and far-reaching global shipping was seen as a major boon by both business leaders and national governments. Cheap goods, larger labour pools to draw from and the prospect of peace through interconnected deals; the author emphasises the excitement of that time in the early chapters. Events like the fall of the Soviet Union and Deng Xiaoping opening China to the world all form pieces of the wider puzzle, creating a firm foundation for the 21st Century discussions.
Political figures, corporate tycoons and ordinary citizens all have a part to play in Elisabeth’s book with a wide array of perspectives woven into the lower page count. As business grew more wealthy and saved on labour costs, we see how western populations were left behind, their jobs being outsourced over time. The sense of perception always plays a role; globalisation may have given us cheaper goods and finer luxuries, but the overall opinion of this system has diminished over time. The middle portion of the book, the 2000s and 2010s, paints a clear picture of the shift from local communities to larger corporations. The devastation of 9/11, the construction of Nord Stream 1 and 2 and the onset of the digital age are key components here, taking us from ground level all the way to national borders.
That leads us into the final part of the book; “friendshoring”. By incorporating the progressive politics of Gen Z and unplugging from an overreliance on authoritarian nations, Braw believes the western world can stave off a downturn while maintaining our values of human rights, free markets and the rule of law. It’s a strong, well-researched idea that looks beyond the gruelling challenges that lie ahead. The world may be dividing once again into east and west, but there are still ways to maintain international cooperation. Braw concludes the book by looking back at Germany, a country with many difficult decisions to make.
Recommended?
YES: Goodbye Globalization is an honest and compact history lesson on the last three decades, but it also charts a course forward. Elisabeth Braw has a clear understanding of current events and where they are taking us, discussing all the major moments that fuelled globalisation alongside its slow demise in the 2020s. The high amount of detailed interviews and notes makes for a simple yet effective chronicle.
May 14, 2024
A review of the history of globalization: how it started and how it’s about to end.
Why it started? Because some guys wanted more money, more and more money. As markets opened they filled in the gaps opened and made a lot of money. How was this done and at what cost?Elisabeth Braw will only scratch the surface. The great incentive was the neoliberal era in full bloom. Technology developed by states’ financing was privatized and some CEOs moved to cheaper labour markets. Capital was granted free flow and rules were good only if they did not prevent these guys from making money. Absolutely no consideration for people who needed to find ways of getting by.
How it is about to end? When politics got in the way of these guys making money. But not democratic politics. As the CEOs are small dictators in their fiefs, political leaders started behaving like them. Only that they have the power of a state. They can make and bend whatever rule they want.
There are no solutions suggested in the book. I would dare state some on the topic. The challenges we face as civilization cannot be solved in other way than through global approach. But the only way to do it right is to place people in the center of interest and not some guys making money, hoping that some crumbs will fall from their table. Tried that and we can see it doesn’t work. The withdrawal to state politics will never be a solution. It will only bring more wars and some other guys will make more money out of the suffering.
Of course we need to evolve as society, to mature as civilization. We are still kids in our thinking and the neoliberal policies keep us in this kid like thinking where all we want are new toys and toys mean happiness.
Why it started? Because some guys wanted more money, more and more money. As markets opened they filled in the gaps opened and made a lot of money. How was this done and at what cost?Elisabeth Braw will only scratch the surface. The great incentive was the neoliberal era in full bloom. Technology developed by states’ financing was privatized and some CEOs moved to cheaper labour markets. Capital was granted free flow and rules were good only if they did not prevent these guys from making money. Absolutely no consideration for people who needed to find ways of getting by.
How it is about to end? When politics got in the way of these guys making money. But not democratic politics. As the CEOs are small dictators in their fiefs, political leaders started behaving like them. Only that they have the power of a state. They can make and bend whatever rule they want.
There are no solutions suggested in the book. I would dare state some on the topic. The challenges we face as civilization cannot be solved in other way than through global approach. But the only way to do it right is to place people in the center of interest and not some guys making money, hoping that some crumbs will fall from their table. Tried that and we can see it doesn’t work. The withdrawal to state politics will never be a solution. It will only bring more wars and some other guys will make more money out of the suffering.
Of course we need to evolve as society, to mature as civilization. We are still kids in our thinking and the neoliberal policies keep us in this kid like thinking where all we want are new toys and toys mean happiness.
May 25, 2025
read this for my globalization class and i have to say i just was not a fan. i can appreciate a narrative history of globalization, especially through the lenses of the telecomms industry, and respect the amount of empirical information this writing showcases. however, i struggled to follow the jumps in location and people. i understand braw’s idea of trying to illustrate the global part of globalization but it ended up being confusing and hard to follow.
i also found that she would massively oversimplify nuanced and significant issues (one section about the russian “conflict that ceased” between the duma and the military aka when they blew parliament up and ended russian democracy). once again: can respect the whole narrative history thing but these moments were quite glaring. this gets into my main bone to pick—obviously china has engaged in much ip theft and corruption etc but braws absolutely scathing critique of china feels disproportionate and at times unnecessary. she frames the offshoring of american manufacturing to china as this chinese driven tragedy and attack on the american people, and while yes manufacturing unemployment has risen in the states, it ignores the BOUNDLESS benefits the american people and western economies have enjoyed as a result. lower prices and privileged economic status in the west has only become possible because of this offshoring, so i find it to be pretty strange that braw takes such a black and white stance to this. she paints americans as “unwitting victims exporting capitalism” and the chinese as corrupt and conniving, which (and i am probably just ultra sensitive to this) i was NOT a fan of.
anyways. yeah.
i also found that she would massively oversimplify nuanced and significant issues (one section about the russian “conflict that ceased” between the duma and the military aka when they blew parliament up and ended russian democracy). once again: can respect the whole narrative history thing but these moments were quite glaring. this gets into my main bone to pick—obviously china has engaged in much ip theft and corruption etc but braws absolutely scathing critique of china feels disproportionate and at times unnecessary. she frames the offshoring of american manufacturing to china as this chinese driven tragedy and attack on the american people, and while yes manufacturing unemployment has risen in the states, it ignores the BOUNDLESS benefits the american people and western economies have enjoyed as a result. lower prices and privileged economic status in the west has only become possible because of this offshoring, so i find it to be pretty strange that braw takes such a black and white stance to this. she paints americans as “unwitting victims exporting capitalism” and the chinese as corrupt and conniving, which (and i am probably just ultra sensitive to this) i was NOT a fan of.
anyways. yeah.
February 19, 2025
Superb account of the decline of globalisation and the increasing troubles that pervade global society today.
Beginning with a detailed overview of the rise of globalisation in the post-Cold War era, the seismic impact of the 2008 financial crisis and culminating in the geo-political issues of today’s world; Russia’s illegal war in Ukraine and it’s control of Europe’s gas reserves, the threat of China as a technological powerhouse within its tightly controlled autocratic political system and how divided and nationalistic the world is looking once again. A must read.
Beginning with a detailed overview of the rise of globalisation in the post-Cold War era, the seismic impact of the 2008 financial crisis and culminating in the geo-political issues of today’s world; Russia’s illegal war in Ukraine and it’s control of Europe’s gas reserves, the threat of China as a technological powerhouse within its tightly controlled autocratic political system and how divided and nationalistic the world is looking once again. A must read.
July 10, 2025
Read this for uni so maybe it doesn't count, but I wrote a 2000 word review on it so I deserve to post it on this website. Such a well-written, comprehensive overview of globalisation from its modern start. Hugely relevant for what's happening now. Loved it!
February 9, 2025
Eye opening book on the impact of globalization on the power of nations, weaponization of economy and need to look for Globalization 2.0
April 19, 2025
A good book for those who did not witness the history from the fall of Communism through the 90s. Unfortunately, rendered outdated by Donald Trump in 2025.
October 5, 2025
Braw kept very well together a complex topic and the stories of the people who are interviewed are very insightful.
March 19, 2025
Ms. Braw presents a thought-provoking case for the pros and cons (predominantly) of globalization from her European heritage perspective and immense cross-industry international experience particularly in the private and defense sectors. She throws tactful geopolitical punches above her weight class and lands them with adept cognitive accuracy and analytical skill. She contextualizes historical and geopolitical case studies and smartly intertwines them with insights into the past, present and potential future with and without globalization. Be prepared to carve extensive brain space and on your book shelf for a piece that will challenge, diversify, and expand your preexisting biases and any novice, intermediate, or advanced geopolitical inclinations or previous study.
Displaying 1 - 10 of 10 reviews