It’s not just talk. Hard evidence is now emerging that all the discussions of strained international relations and more than a decade of warnings over the end of an era of globalization are finally spurring corporations to pick sides with their capital. Western multinationals that for years have avoided geopolitics in favor of pursuing profits in less mature markets are increasingly building the factories of the future in like-minded nations.
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“This is a historic change,” said Yeo Han-koo, a former South Korean trade minister, who sees a world entering an era of upheaval. “A new economic order is being formulated and that will cause uncertainty and unpredictability.”