Topic B Updates

The trend of deglobalization has persisted into 2024, as seen in updates regarding Brexit, the American-Chinese trade war, and the Russia-Ukraine war. As of 2024, the United Kingdom remains a non-member of the European Union, and as a result of its departure, the UK has dealt with rising consumer prices, high inflation, and delayed/reduced imports. Brexit has isolated and restricted the UK from outside markets, accounting for the above consequences, as noted by the CNN article The UK economy still can’t cope with the consequences of Brexit. In regards to the American-Chinese trade war, despite there being attempts at diplomacy between the Biden administration and Xi Jinping, high levels of tariffs still remain and there are attempts to raise these tariffs even higher. Former president Trump recently affirmed how he'd enforce tariffs of 60% or higher on China if he won the 2024 presidency, as discussed in the CNBC article Trump floats 'more than' 60% tariffs on Chinese imports, demonstrating the persistence of the trade war and possibility for further economic isolationism and deglobalization. Lastly, the Russia-Ukraine war, beginning in 2022, is still ongoing, and the trend of friend-shoring, the act of trading with friendly nations and reducing trade with nations deemed hostile, and nations isolating into alliances has continued. Both Finland and Sweden recently joined NATO, further isolating the rest of Europe from Russia, while Russia has created closer ties with China and North Korea. Notably, Russia and North Korea have begun trading at an increased frequency, especially in military-related goods, as Politico discusses in its article North Korea ramps up shell deliveries to Putin, Seoul says. This all goes to demonstrate the persistence of friend-shoring and the continued trend of strategic isolationism into 2024, a reason for further deglobalization. 

Sources:

https://www.cnn.com/2023/08/29/economy/uk-food-imports-safety-brexit/index.html

https://www.cnbc.com/2024/02/04/trump-floats-more-than-60percent-tariffs-on-chinese-imports.html

https://www.politico.eu/article/north-korea-munitions-russia-vladimir-putin-war-ukraine/

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