Reconfiguration of global trade and FDI

Third globalisation has seen slow but profound changes

The ‘second globalisation’ featured unconditional access for the periphery to the advanced economies, which are the core of the world economy. The ‘third globalisation’ makes this access more conditional on foreign policy and military alignment. New data shows the magnitude of the third-globalisation reconfiguration of trade and foreign direct investment (FDI). These developments present interesting puzzles for Indian foreign policy. Strategy thinking in firms needs to incorporate these considerations.
 

Many people think of globalisation as a modern phenomenon. In the good old days, however, governments did not interfere with the natural freedom of people: There were no restrictions upon the