Globalization is under fire in many nations, no doubt about it
BY ALY S. GRANT
James A. Robinson, a political scientist at the University of Chicago, won the 2024 Nobel Prize in Economic Sciences for his research on how political and economic institutions affect prosperity.
He and his co-laureates, Daron Acemoglu and Simon Johnson, found that societies with inclusive institutions are more prosperous than those with extractive institutions.
Robinson's research focuses on the root causes of global inequality, including the role of institutions. His work provides a deeper understanding of why countries succeed or fail.
Robinson says that despite the economic challenges, Mexico has opportunities to benefit from nearshoring for next year, even with the Donald Trump government in the United States.
The reconfiguration of production chains, derived from the change in international trade, represents an opportunity from which the country can benefit.
“For many parts of the world there will be negative economic effects, economic growth will decrease a little, but Mexico is in a position where it can benefit from this reconfiguration of trade,” he said.
During his participation in a conference, James A. Robinson said that “Much of the production will return to Mexico and the United States," as part of deglobalization.
Deglobalization is known as a stage in which the growth of exports is reduced and is compensated by an increase in domestic consumption.
In that sense, the winner of the Nobel Prize in Economics said that Mexico could benefit from this phenomenon with nearshoring and “friend-shoring” at a time when there is so much animosity towards Russia and China,” and highlighted that although the outlook is not good for dozens of countries, Mexico can become one of the few key places for investment and production in the face of conflicts in other regions of the world.
