GEOPOLITICAL TENSIONS ARE RESHAPING “Globalization is still very much THE GLOBAL ECONOMY alive. It would take a disastrous CEOs acknowledge the benefits of globalization, yet global war to break up the global recognize that it has concentrated power and wealth supply chains we have in place. into the hands of a few to the detriment of many. It will, however, constantly be redesigned as the equilibrium Francesca Fondse, CEO of De Angelus Estates and of powers shift.” Angelus Africa SD Projects, explains, “The subject of globalization is a double-edged sword. It can be very Francesco Starace, good, but it has clearly not delivered the promise of Chief Executive Officer and progress for everyone.” Shinichi Odo, Representative General Manager of Enel Group Director Chairman of the Board of NGK Spark Plug Co., Ltd., adds, “Inequalities and extreme disparities have arisen due to excessive globalism. We have to develop a better system of globalization so those “Globalization until now has been disparities can be eliminated.” a way to optimize the economic models of some countries without However, globalization is still a necessity, as 80% considering the needs of others. of CEOs feel that the world needs globalization to Everyone is now waking up and achieve the SDGs. Globalization must therefore creating an environment in which their own voices are heard. We are be rebalanced as it starts to take on a new shape seeing a rebalancing of power.” – one that’s inclusive and delivers shared value. CEO of Crescent Enterprises, Badr Jafar, shares, Thomas Buberl, “Globalization is far from dead, but it is rapidly Chief Executive Officer of AXAevolving into a more complex system. This multipolar world will generate new rule books which companies will have to figure out and navigate in order to thrive.” “Globalization has had positive and negative side effects to society, but it is here to stay. Nationalism may be rising temporarily, but the benefits of the global economy to all of us, especially the developing world, are too great to pass up.” José Ramón Vicente Rull, CEO of HLA Group & Managing Director of HLA Moncloa University Hospital “Geopolitical instability is creating multiple externalities – it’s increasing energy costs, distorting supply chains, and restricting access to materials.” Toshimitsu Taiko, President & CEO of Konica Minolta, Inc. 16 17