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Over the past decade, globalization has faced the number of unprecedented challenges triggered by a series of significant adverse events. With the continuous intensification of protectionism, nationalism, and de-globalization, the global economy has been withdrawing from a high-level of openness and interdependency. Trade disputes and political tensions between countries evoked further concerns of scholars about ongoing de-globalization that has been actively problematized since the end of 2010s. While many scholars expect greater risk aversion, protectionism and nationalism to be the paradigm for national economies and for multinational companies (MNCs), others oppose suggesting that the foundations of globalization have not eroded, and post-pandemic world will need even more globalization. This point grounds on the idea that the world is now and will long be fragmented and unequal, and international firms will persist as bridges that connect the fragmented reality.

MNCs and (de)globalization: New paradigm for emerging markets