This HBR article argues that traditional globalisation is over, replaced by a more fragmented, bilateral system. The authors say this shift is driven by factors like China's trade strategy and the West's desire to reduce dependence on China.

According to the article, companies need to adapt to this new reality by building "permissionless" ecosystems. This involves leveraging technology, modularity, and redundancy to be more agile and resilient.

The authors urge businesses to rethink their global supply chains and operations. Rather than relying on a centralized, top-down approach, companies should create more distributed, flexible networks that can respond quickly to changing market conditions.

Overall, the piece paints a picture of a world that is moving away from the unified global economy of the past few decades. Companies that can embrace this new fragmented landscape will be better positioned to succeed in the years ahead.

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