Slowbalization: Rising Trends for the Global Economy and Business

Abstract

Abstract This paper investigates and analyzes the paradigm of slowbalization and the new direction of globalization and how they can expose business to more challenges. The research methodology mainly focused on literature review with a focus on a descriptive data analysis in the content of the paper. The results showed that factors such as economic decoupling that may transform to a real difficult reality for companies, the economic consequences of the geopolitical conflicts, the pandemic caused by Covid-19 divergence in US-China relations globally, political economic instability, rising inflation rates and other risks such as cyber-attacks have always posed a threat to economies, companies, businesses and markets. Slowbalization as a word does not exist in literature or language roots but it illustrates the recoil of globalization due to some of the previous stated factors. In conclusion, the end of globalization seems to be impossible since it appeared in the fourth industrial revolution that witnessed the appearance of digitalization, computer and internet. It is possible that a new phase of globalization is being reshaped or a new road towards its sustainable aspects. On the contrary, the introduction of a new international order is always a potential probability.