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Bonn, Germany — DHL Group Wednesday shared the DHL Global Connectedness Report 2024 revealing that globalization has reached a record high in 2022 despite recent global challenges like the pandemic and geopolitical conflicts.

The report is a Comprehensive Analysis of Globalization Trends put together by New York University’s Stern School of Business.

The DHL Global Connectedness Report 2024, by Steven A. Altman and Caroline R. Bastian, presents an in-depth analysis of globalization’s current state, revealing ten critical insights into “Peak Globalization”.

  1. Peak Globalization: 2022 saw global connectedness reach an all-time high, maintaining a similar level into 2023. This indicates the resilience and growth of international flows despite recent global crises.

  2. Singapore Leads in Global Connectivity: Ranking as the most globally connected country, Singapore is followed closely by the Netherlands and Ireland, showcasing large international flows relative to domestic activities.

  3. Evolving U.S.-China Relations: Both nations have seen a significant reduction in their interconnectedness since 2016, with direct trade between the two countries notably diminishing in 2023.

  4. Russia-Europe Decoupling: In the wake of geopolitical shifts, notably Russia’s invasion of Ukraine, there’s been a significant shift in Russia’s trade away from Western-aligned countries.

  5. Stable Global Trade Dynamics: Contrary to regionalization theories, global trade is not significantly shifting towards shorter, regional flows, except in North America.

  6. Corporate Globalization Advancing: Corporations continue to expand internationally, with a steady share of mergers and acquisitions happening across borders.

  7. Stalling in Information Globalization: While information flows have dramatically globalized over the past two decades, recent U.S.–China tensions have contributed to a stall in this trend.

  8. Global Trade’s Share in GDP: 2022 witnessed a record share of global trade in world GDP, although there was a modest decline in 2023, with forecasts suggesting a pick-up in 2024.

  9. Increased but Limited Global Connectedness: While globalization has increased, the world’s level of connectedness remains at 25%, indicating that domestic flows still significantly surpass international ones.

  10. No Clear Split in World Economy: Despite geopolitical tensions, there hasn’t been a significant division of the world economy into rival blocs.

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John Pearson, CEO DHL Express, is quotes as saying:

The most recent findings of the DHL Global Connectedness Report unequivocally dispel the notion of globalization reversing course. Far from being a mere buzzword, globalization is an influential force that has profoundly reshaped our world and has further great potential. Expanding markets and fostering opportunities empower individuals, businesses, and entire nations to flourish in unique ways. Embracing globalization allows us and our customers to forge a promising future, fostering an increasingly interconnected world, more prosperous for all – and poised for further growth.

By Silvia Orfeo

Silvia Orfeo is a Sr. Politics and Economics Reporter at Nobot.News

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