The research found that 88% of leaders agree that globalization is succeeding across five pillars: trade, capital, technology, talent, and sustainability. Nearly all respondents (95%) supported free capital flow and 86% believed that global trade positively impacts sustainable development. The leaders advocated for the role of trade in driving economic growth and resilience in supply chains and called for a collaborative approach to international trade agreements and complementary domestic policies.
Technology emerged as a significant theme with 75% of leaders stating that the free global data flow has positive outcomes. They also called for a safe digital future of finance. Chinese business leaders expressed optimism about the role of digital assets in solving challenges around moving money.
On the topic of talent mobility, 74% agreed it’s beneficial for businesses to hire talent from anywhere globally. UK business leaders were most likely to say that globalized services have created significant opportunities where they reside.
The survey also revealed that 70% of respondents approve of global governance mechanisms for sustainability, but only 56% agreed on the need for global efforts to tackle climate change. Reflecting on these figures, Bill Winters, Group Chief Executive of Standard Chartered, emphasized the need for a reset to make globalization fairer, more inclusive, and more sustainable. He stressed the need for resilient and inclusive trade, greater capital flows to bridge funding gaps in growing markets, technological progress benefits for more people, and a just transition to achieve collective sustainability goals.
The study aims to identify catalysts to foster a more inclusive, transparent globalization model favoring smaller businesses and emerging markets. Despite skepticism due to current global issues, a majority of leaders affirm the success of globalization and express optimism for its future.
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Source: Economy - investing.com
