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Stéphane Garelli: “Globalisation may have become too risky”

INTERVIEW | With 3,000 billion dollars of investment at stake in countries that have become reputational and economic risks, companies are now systematically reviewing the ownership of the physical assets they own worldwide – whether they are factories, offices or distribution systems. At Treasury 360° Nordic on 9 June, economist Stéphane Garelli will open by giving the big picture. And a recommendation – to be bold.

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[Click here and sign up today, to join 9 June’s Treasury 360° Nordic digitally from your desk.]

“The mindset of people outside and inside companies is changing,” says Stéphane Garelli, pointing to the formidable challenges of today’s geopolitical issues and consequences such as sanctions or the technology revolution that breaks down entry barriers.

“In this environment, companies need to be more aware of the impact of the global environment on their strategy.”

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Stéphane Garelli’s CV is rich, with positions including the role as managing director of the World Economic Forum and of the Davos annual meetings. His professional and academic focus is on competitiveness, of nations and companies: what factors influence that competitiveness, and how it is built and managed. He is a founder of the World Competitiveness Center at Swiss business school IMD, and publisher of the annual World Competitiveness Yearbook.

“We see the end of globalization as we have known it for the past 40 years. The world economy has gone through three stages. The first, “low-cost globalization,” was characterized by cost efficiency and just-in-time production. After the Covid crisis, the second favored the decoupling of economies and the duplication of technologies. The objective was to reduce dependency and supply breakdowns. After the events in Ukraine, the third stage is one of a fractured global economy,” he says, rating the current shift as “the most fundamental strategic reassessment in 40 years”.

“Globalisation may have become too risky,” says Stéphane Garelli.

“How to be successful in such an environment? Indeed, it is time to be bold.”


Sign up today, to join digitally on 9 June

Join this year’s spectacular Treasury 360° Nordic conference online (if you can’t be in Copenhagen), on 9 June. For you who have a treasurer or other corporate role, it is free to take part!
The program starts at 9.40, with Stéphane as the first speaker.
Click here and sign up today, to take part digitally from your desk on 9 June.
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