Globalization and Emerging Markets
At the DACH Forum 2022, you will have the unique opportunity to discuss this highly relevant topic together with our wide selection of Corporate Partners. The event encompasses an academic program worth 3 ECTS.
What makes EMs so interesting for multinational firms? EMs are countries in transition to advanced economies. They are characterized by a high growth dynamic, fast industrialization and an increasing integration into world markets. A fast growing middle-class and progress in reaching middle-income levels apply too. The economies subsumed under this title are quite dissimilar in size, dynamics and resource endowments and range from the big BRICS economies to oil-rich countries in the Middle East and small dynamic countries in Latin America. The biggest share of global economic growth comes from this group of countries. In 2021, emerging markets and middle-income economies accounted for 66% of the world population and 53% of the world’s GDP.
In the last years, globalization has changed its character and tempo (“slowbalization”). The expansion of global supply chains stopped, regional trade agreements and national protectionism have been on the rise. The change from an US-dominated unipolar to a multi-polar world order where EMs have a stronger say is creating more frictions and risks in the global system. System rivalry between the West and China culminated in the US-China trade war. The outbreak of the Covid-19 pandemic in 2020 highlighted the vulnerability of global supply chains. The Russian invasion in the Ukraine erased foreign direct investment in both countries, created disruptions in trade flows and drove food and energy prices up. Unfortunately, these multiple short- and midterm crises overshadow structural global megatrends such as global warming and the urgent need for decarbonization that would require fast and coordinated responses. The management of multinational companies is under enormous pressure to find the right answers to the current challenges.
In this course, we will address the current developments in globalization and the role of EMs in the global economy. Furthermore, we will discuss the challenges for European firms in EMs and their strategy choices for a more effective performance in EMs.
- Pre-course reading assignment
- Case discussion
- Research report
We are already looking forward to welcome you to the DACH Forum 2022 in Vienna.
*final confirmation with course outline