Globalization Is Waning… US-China trade deal won’t solve that, strategist says.

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via CNBC:

  • Peak globalization has actually already come and gone, according to David Roche, president and global strategist at London-based Independent Strategy.
  • Even China — whose leaders are now some of the loudest proponents of global systems — will see most of its future growth come from domestic pursuits, he projected.

Globalization is waning, and a U.S.-China trade deal would do nothing to reverse that phenomenon, according to a global investment strategist.

Peak globalization has actually already come and gone, according to David Roche, president and global strategist at London-based Independent Strategy.

“The actual reversal of globalization started over seven years ago,” well before the rise of U.S. President Donald Trump, as countries worldwide instituted more protectionist policies, Roche told CNBC’s “Squawk Box” last week.

In fact, even China — whose leaders are now some of the loudest proponents of global systems — will see most of its future growth come from domestic pursuits, he projected.

“Globalization is on a back foot, it’s not the trade deal with China, a trade deal agreement which would flip the switch and turn on the motor again — the damage has been done,” he added. “There is no way going forward that China is able to grow by using international trade. It is going to grow more domestically.”

 

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