Insight
Title:
The disruption of globalisation
Description:
Globalisation was already under pressure:
- The middles classes in the developed world were feeling left behind.
- The US and China are economically intertwined and a cold trade war was building.
- A new sense of nationalism was emerging. This was particularly evidenced by the #MAGA (Make America Great Again) and Brexit (#VoteLeave) campaigns.
Implications for businesses could be profound. We have already seen that, in pharmaceutical development, residents of the country where a pharma company has its headquarters may expect to get a new drug first. (Source: Coronavirus: 15 emerging themes for boards and executive teams | McKinsey)
PESTEL:
Economic