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Slowbalisation : Will the slowing worldwide economy be a boon or bane

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A group of Italians started the slow food movement back in 1980s . It stays away from the fast food restaurants, they urge: eat local, focus on traditional recipes, relax and enjoy your meal. The slow food movement began as a protest against Mc Donald’s which opened a new franchise near the Spanish Steps in Rome . But it raises into much more than that. The Slow fast was a finger in the eye of globalization and its persistent transformation of Culture into uniform Mc Nuggets of Experience from the Newyork and New South Wales to Dhaka and Dakar.  

The Call to Culinary arms, the movement has spread to other branches of Culture : slow cinema, Slow education, Slow medicine, Slow design even slow travel. To a World addicted to greater connection speeds, ever faster modes of transportation, and ever more  caffeinated feats of Multitasking, the go slowers commend a perverse resistance to the Frenzied Scherzo of modern life in favour of a more comfortable adagio.

The Economist identified several key indicators of what it calls slowbalisation. The Portion of trade as part of  worldwide GDP has fallen. Multinationals have seen a drop in their share of world profits . Foreign direct investment tumbled from 3.5 percent of worldwide GDP in 2007 to 1.3 percent in 2018. The US- China trade war is only part of this story. Although increasing tariifs between the two countries could cost the world nearly half a trillion dollars in lost growth by 2020, a unexpected about turn by the two countries wouldn’t necessarily reverse the current  course of the worldwide economy .

The Cost of Moving goods has clogged falling . Multinational firms have found that worldwide sprawl burns money and that local rivals often eat them alive. The Activity is variable towards services, which are harder to sell across borders. The Scissors can be exported in 20ft containers, hair stylists cannot. And Chinese Manufacturing has become more self contingent so needs to import fewer parts.

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