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Opinion

Trump, Globalization, and Trade’s Uncertain Future

By Pankaj Ghemawat

Pankaj Ghemawat

Donald Trump’s election to the presidency of the United States makes Brexit look like a hiccup.

Donald Trump’s election to the presidency of the United States makes Brexit look like a hiccup. As Nigel Farage, the leader of the UK Independence Party, put it, the election of Trump is “Brexit times three.” This new reality will require businesses to rethink globalization, starting with the aspects Trump is most critical of.

Trump’s plans so far have focused on restricting two facets of globalization: trade and people.

Restrictions on the inflow of people — not only illegal immigrants but also Muslims — have been one of Trump’s signature campaign themes. Migration is likely to come under additional pressure, even though net migration from Mexico to the U.S. has already been negative for years. So will people inflows for other purposes, like university studies and tourism.

Read the full article in Harvard Business Review.

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Pankaj Ghemawat is a Global Professor of Management and Strategy and Director of the Center for the Globalization of Education and Management.