Vijay Eswaran on Why Globalization Is Being Rebuilt

Vijay Eswaran Says the New Rules of Global Trade Are Being Written Right Now

Trade volumes hit records even as supply chains buckle. The QI Group executive chairman explains why the global economy is not fragmenting — it is restructuring, and regions are leading the way. Deglobalization makes for a compelling headline. It does not, however, describe what is actually happening to world trade. Record-breaking trade volumes, a wave of new regional agreements and accelerating digital payment infrastructure tell a more compli…

Vijay Eswaran on Why Globalization Is Being Rebuilt

The QI Group executive chairman argues that trade fragmentation is reshaping, not ending, the global economy, and that regions like ASEAN are at the center of the redesign. World trade hit a record $33 trillion in 2024, up 3.7% from the year before. That figure — drawn from UN Trade and Development data — might surprise anyone who has spent the past few years reading headlines about deglobalization, fractured supply chains and an era of every-na…