Larry Fink is exaggerating it.
Russia was not a critical component of globalization - not the first pre-WWI, nor the second.
If Russia became a complete hermit state today it would not affect world trade beyond a rise in prices for 3 to 5 years before it is factored in.
If the USA or China or India or France or the UK or Japan or South Korea were to hermitize, then that would be a hit to globalization.
What exactly is this “globalization” that Larry is referring to? - the ways people interact - this is similar to people in sc not buying only sc products but pan-American products.
The Russian invasion of Ukraine was not the same impact as Covid on the world outsourcing market — I can tell you that FMCG companies have, since 2020 already moved to partial localization.
Larry Fink is just flat out wrong.
What is happening in China - the CCP apparatus - is CHANGING globalization, and Russia’s war against Ukraine is not ending globalization, not by a million miles. Both Russia and Ukraine are to “globalization” as much as Delaware is to the U.S. economy.
Asia is the “globalization” manufacturing center and it is not depending on Russia or Ukraine.
Fink’s tying Russian agression to ANYTHING in domestic U.S. political culture is simply Fink getting far afield from any expertise he has and ruminating on things political using no more than meme’s other’s have written which Fink mimes without judgement of them.
The west collectively remains the financial hub of “globalization” and it too is not dependent on Russia pr Ukraine.
Larry Fink should stink tp true financials and stay out of politics, which - politics - is what he is entering into with his views on Russia’s war on Ukraine vis-a-vis “globalization”.