Globaliseringen har længe været et skældsord, og den fik et tilbageslag under coronakrisen, men Nordea ser tegn på, at den kommer igen.
Is Globalization back on the menu?
The globalization trade is back on as the cocktail of a Biden victory and vaccine news has suddenly re-ignited the belief in global trade and globalism in general. Not even the regionalism showcased on both sides of the table in the Brexit negotiations is currently able to distort the current renewed optimism among globalists.
Whether the elitist Biden will successfully re-launch a (perceived) fairer version of globalization is a whole different question, and one we remain highly sceptical of. This is the question that Biden needs to figure out over the coming four years, unless he wants a fierce re-match with The Donald in four years time.
For now markets rightfully cheer on an upcoming big rebound in global trade – that is also exactly what our models are telling us to do ahead of 2021.
