The new kind of globalisation

After the go-go 1990s and 2000s the pace of economic integration stalled in the 2010s, as rms grappled with the aftershocks of a nancial crisis, a populist revolt against open borders and President Donald Trump’s trade war. No one knew if globalisation faced a blip or extinction. Now the pandemic and war in Ukraine have triggered a once-in-a-generation reimagining of global capitalism. Everywhere you look, supply chains are being transformed, from the $9tr in inventories, stockpiled as insurance against shortages and ination, to the ght for workers as global rms shift from China into Vietnam. This new kind of globalisation is about security, not efficiency: it prioritises doing business with people you can rely on, in countries your government is friendly with. It could descend into protectionism, big government and worsening ination. Alternatively.

(Adapted from “The Tricky Restructuring Of Global Supply Chains,” by the Economist, published on June 16, 2022)

Sleepless in Singapore

Expats hoping to leave behind Hong Kong’s strict coronavirus pandemic measures, after enduring nearly a year of escalating political turbulence, are looking to Singapore. But they’ll have to contend with rising house prices, unprecedented competition for school places and increasingly stringent visa requirements. John, a finance worker based in Hong Kong, is not looking forward to the move. ‘We are going from a house with a pool, a tennis court, a garden, five bedrooms, to somewhere where we are looking at an apartment, basically,’ he says. Singapore, typically seen as one of the world’s most open economies, has long welcomed international corporations. But competition for jobs and the rising cost of living have hardened attitudes against the high-earning migrants.

(Adapted from “Sleepless In Singapore: The Challenges Facing Hong Kong Expats,” by Oliver Telling, published on June 10, 2022)

A $1bn advertising waste

New research shows that many commercials continue to play on ad-supported streaming services after viewers turn off their televisions, a problem that is causing an estimated waste of more than $1bn a year for brands. The findings come as an ever-growing share of ad dollars is shifting from traditional TV to streaming platforms, a trend that is likely to accelerate now that industry giants Netflix and Disney+ have embraced the idea of offering an ad-supported version of their services. Some 17pc of ads shown on televisions connected through a streaming device are playing while the TV is off, according to a study. That is because when a TV set is turned off, it doesn’t always send a signal to the streaming device connected to the TV through its HDMI port. As a result, the streaming device will continue playing the show and its ads unless users had exited or paused the streaming app they were watching before turning off their TV. However, “virtually no incidence” of the issue on smart TV apps.

(Adapted from “Some Ads Play On Streaming Services Even When The TV Is Off, Study Finds,” by Suzanne Vranica and Lillian Rizzo, published on June 12, 2022, by the Wall Street Journal)

Stay calm and boss on

Emotional things happen at work every day. From overbearing bosses to annoying colleagues, comments that can derail us to making mistakes — it’s not always easy to maintain our calm and composure. But showing poise in the face of difficult situations is the essence of executive presence, and a skill we all must hone. Here are some ways to keep your calm during tense moments.1) Take deep breaths: When you’re in fight or flight mode, your breathing becomes irregular, fast, short, and shallow, and regulating it can be your first line of defence. 2) Distract yourself: Do something to take the attention away from your strong emotion temporarily. 3) Use your words: Research shows that putting your feelings into words, or emotional labelling, can quickly reduce their grip on you and lessen your physiological distress.

(Adapted from “How to Quickly Calm Down When You Get Triggered At Work,” by Dina Smith, published by HBR Ascend)

Published in Dawn, The Business and Finance Weekly, June 20th, 2022