McKinsey: Globalization’s next chapter

Globalization isn’t in retreat, but it has morphed into a very different phenomenon, increasingly powered by trade in services and by intraregional trade.

 
In this episode of the McKinsey Podcast, Simon London speaks with McKinsey Global Institute partner Susan Lund about the changing dynamics of global value chains, which are transforming the meaning of globalization. Trade in services (as opposed to goods) has continued to rise, while intraregional trade has intensified. Underlying it all is the impact of automation on low-skill jobs—which will ultimately increase the need for innovation in operations, manufacturing, and supply chains.

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