Crises and globalization: the delineation of a new path

Globalization has had an impact on markets, but it has also had an impact on political and societal systems. Without doubt, the interconnectivity of markets, the urge for competitiveness, coupled with socio-economic development, all shaped a new era of globalization. Nonetheless, these also exacerbated existing political and societal cleavages to a more unstable scenario, whilst favoring some elites; consequently, inequality has been increasing. This chapter offers an overview and some thoughts as to how crises and globalization pose new opportunities for economic development, but also as to how they have increased economic policy uncertainty (EPU). The overview encompasses a complex scenario that affects the geopolitical and geoeconomic perspectives of the current and future business and global political and economic actors, with Asia being a key region that will have to deal with the globalization challenges.