An Ideas-Based Online Magazine of the Global Network for Advanced Management

Future of Globalization: Turning Inward

To coincide with the fifth anniversary of the Global Network for Advanced Management in April 2017, Global Network Perspectives asked faculty across the 29 schools in the network: "What do you think the future of globalization looks like? How will this affect the economy in your country or region? How is your school preparing students for this world?" Read all of the responses. Also, in a session at the anniversary symposium, a panel of experts—including former U.S. Secretary of State John Kerry—led a discussion of the future of globalization and its implications for business and management education. Watch the video.

Majid Ghorbani
Majid Ghorbani

Recent political events, such as the United Kingdom pulling out of the European Union and the United States’ withdrawal from the Trans-Pacific Partnership, might indicate a blow to the process of globalization. The rise of populism in some countries and regions might suggest a further turning inward in those countries and regions. I think these unfortunate events are not major hurdles to the trends of globalization. I see them as reflective of a potential shift of the center and direction of globalization from former centers to the new centers of economic development.

Despite Brexit and other potential populist threats, the EU is going strong and receives applications for expansion from the remaining European countries. In spite of the recent failure of the TPP, China, India, and other BRICS countries still count on and are pushing for further liberalization of trade to grow their economies. Multinational institutions such as the G20, ASEAN +3, and APEC, as well as multilateral treaties, help these emerging players to shift the center to rising economies and regions. The forces resistant to globalization can only change the former converging nature of this phenomenon to divergence and more multipolarity.

Our International MBA program, with established roots in China and the mission of training future global leaders, provides better opportunities for our students. We see China as one of the key economic poles for the globalized economy. We train non-Chinese students on the challenges that China faces and the impact that China is making both domestically and internationally. Through our extensive global network of partners, we also prepare our Chinese students with the skills needed to manage global enterprises.