World Economy Faces Strategic Shifts

(MENAFN) The international economic landscape is undergoing fundamental shifts, with the growing value of critical commodities prompting a surge in protectionist trade policies.

These transformations are making such trade practices more prominent globally.

Mercantilist approaches have gained traction since the beginning of the year, particularly following US President Donald Trump’s imposition of tariffs and similar actions by other nations.

As a result, protective economic policies are gradually overtaking the concept of free trade — this trend is weakening globalization, while regional economic alliances are becoming increasingly influential.

Specialists point out that this ongoing tendency may spark heightened apprehension regarding global economic expansion.

This is attributed to diminishing collaboration among countries and the imposition of tighter commercial barriers.

This is happening despite the anticipated changes expected from advances in digitalization, artificial intelligence (AI), and environmentally focused transformation, all of which are projected to reshape the global financial system.

Such advancements could potentially alter how societies produce and consume goods, adjust their strategies for managing economies, and redefine how countries interact and cooperate on the global stage.

Ibrahim Unalmis, a professor of economics and head of the Financial Research and Implementation Center at Istanbul’s Bahcesehir University, explained to a news agency that globalization has historically occurred in three distinct phases.

“Working or starting a business outside of one’s country has become more prevalent due to globalization,” he emphasized.

Unalmis also noted that following the conclusion of World War II, nations placed their focus on strengthening domestic industries.

During this time, both European countries and the United States concentrated on reconstructing their economies.

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