Global capitalism: There’s life in the old dog yet

The global financial crisis, COVID, resurgent nationalism, deteriorating relations between the US and China, and war in Ukraine have transformed the global business environment for the worse. (Representative image)

The World Economic Forum in Davos has been the meeting place and cheerleader for global capitalism. But, some would argue, this cause is dead. Russian oligarchs are absent. Although some Chinese business leaders are there, their wings are clipped at home and abroad. The global financial crisis, COVID, resurgent nationalism, deteriorating relations between the US and China, and war in Ukraine have transformed the global business environment for the worse. Ultimately, capitalism is global, because opportunities are global. Beyond national…