The phenomenon of economic globalization has ensured that all the rational elements of the economy are interrelated with each other due to the consolidation of oligopolies, technological convergence and tacit corporate agreements, so that the third wave of the economic recession that is coming will be global and binding and will have as a collateral effect the irreversible decline of the global economy. To reach this decline, the first sketches of which are already outlined and which will be finished in the next five years, the following elements have contributed:
Substitution of the economic doctrine of Budget Balance of the States by that of Endemic Deficit, a practice that by mimicry will be adopted by domestic economies and companies and public and private organizations, contributing to the disappearance of the culture of savings, chronic indebtedness and excessive dependence on the Foreign Financing.
Establishment of compulsive consumerism in developed countries, favored by the incessant bombardment of advertising, the irrational use of plastic cards, the granting of instant credits with bloody interest rates and the invasion of a tide of manufactured products of dubious quality and unprofitable prices. competition from emerging countries.
Paranoid obsession of stateless multinationals or transnational corporations to maximize profits due to the insatiable appetite of their shareholders by demanding constant increases in dividends, not hesitating to go into dangerous debt for the sake of gigantism through hostile IPOs and intensifying the policy of relocation of companies to emerging countries in order to reduce production costs.
Brutal increase in the consumption of raw materials and manufactured products by China and other emerging countries due to their spectacular GDP growth, which together with the intervention of speculative brokers has led to a spiral of impossible increases in raw material prices to assume by the economies of the First World as they cannot be reversed in the final price of the product given their high production costs and as a consequence of all the above there has been a significant loss of their competitiveness, stagnation of their exports, increase in Deficits by Current Account and External Debt and global economic instability.
Consequently, a five-year scenario will be drawn in which economic protectionism and the subsequent contraction of world trade would return, which de facto will mean the end of economic globalization and the subsequent return to watertight economic compartments, which will have the effects Collateral is the end of mass tourism, the return of relocated companies and the enthronement of the circular economy and ECO label products that will end up shaping the autarkization of world economies.