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Since the financial crisis in 2008, predictions about loss of confidence in the global economic system have proliferated. The prevalence of free trade, liberal immigration policies, and increased international economic coordination - overseen by multilateral rules and institutions - is being challenged.
The U.S.-China trade wars, Brexit and rising populist politics in many countries around the world are all contributing to the emergence of "Economic Nationalism." And the response to the global coronavirus pandemic has highlighted trends we had begun to see in the economic policies of developed and developing countries to emphasise national sovereignty and to seek to promote national interests and industries over and above international cooperation and integration.
This is manifested in the U.S. shift towards a more protectionist "America First" trade policy, the potential bifurcation of technology, calls for more restrictions on movement of people and data, greater limitations on foreign direct investment, and unilateral action by states to move away from established multilateral organisations and agreements (including NATO, the European Union, and the Iran Nuclear Deal).
Multinational businesses must learn to thrive in this new and uncertain environment, which raises a range of practical issues, including:
We operate at the intersection of law, regulation, business, and politics. Our deep understanding of drivers and restrictions of international trade and investment enable us to provide you with comprehensive advice incorporating legal, political, and market intelligence to help steer your business through risk and disruption. Effective navigation of political, regulatory, and jurisdictional divergence allows businesses to protect their interests and stay ahead of the competition in a rapidly changing world.
Our cross-disciplinary teams work with you to create holistic solutions to the challenges presented by social, economic, and political uncertainty.
