In today’s time of global instability, we are, every day, stepping onto uncharted territory. It seems like we have to learn how to rationalise what previously thought irrational given the political and economic disruptions. Change, and so, adaptability appear to be the essence of understanding significant changes in politics, businesses and societies as well managing their impacts.
In the Executive Panel Discussion the impact of Trumps presidency, changing thoughts on globalisation and the “trade war” have been discussed.
According to Lori Heinel, we are not yet in the state of a trade war, but with the raise in digital developments we need to start considering scenarios where intangibles assets like data play a major role. The need for raising the awareness of benefits of global trade was pointed out strongly and supported by all panelists. Being able to see global challenges from different angles appear to be a new skill, we all need to develop.
Putting Views into Broad Perspectives
Lori Heinel stated that globalisation, holistically, goes beyond trade. Dr Constanze Stelzenmueller emphasised that currently, one of few similar concerns for Trump, many European leaders and society, according to the opinion survey, is the containment of immigration. Most flows (money, resources or people), take place within regions that across the borders and in that manner Europe is deeply interconnected.
It is difficult to overstate the importance of the world views of the hardliners that Trump has surrounded himself. This fear of globalisation is affecting Europe as the US can detangling itself from the rest of the world even though it would do so at high costs. The US and Europe are deeply integrated economically and for Europe such attempt would be disastrous.
Dr Constanze Stelzenmueller also invokes citizens to preserve, protect and repair the institutions and processes of representative democracy.
“Are we doing enough as citizens in our own spaces?”
Hear some video samples of the Panel Discussion and get more insights on the topics trade, globalisation and economic challenges.