TITLE:
The Impact of Rising Trade Protectionism on the Global Business Environment
AUTHORS:
Junyu Shang
KEYWORDS:
Trade Protectionism, Global Supply Chain Restructuring, Multinational Corporation Innovation Strategy, Industrial Chain Digital Transformation, International Economic and Trade Landscape
JOURNAL NAME:
iBusiness,
Vol.16 No.4,
November
27,
2024
ABSTRACT: This paper examines the profound implications of rising trade protectionism on the global business environment. In recent years, the global trade landscape has undergone significant transformations, with the implementation of protectionist policies leading to alterations in international trade flows and structures. This trend has not only impacted traditional trade but has also catalyzed the rapid development of digital and service trade sectors. In response to these challenges, multinational corporations have strategically adjusted their global operations, restructuring supply chains to enhance resilience and flexibility. Supply chain reorganization is manifested through changes in geographical distribution, increased vertical integration, and shifts in division of labor patterns. Concurrently, the innovation strategies of multinational corporations are evolving, characterized by a synthesis of global coordination and localized innovation. Furthermore, digital transformation has emerged as a pivotal strategy in addressing trade uncertainties, driving the intelligent upgrading of industrial chains. The application of technologies such as big data, artificial intelligence, and blockchain has significantly enhanced the visibility and predictive capabilities of supply chains. While trade protectionism presents numerous challenges, it has also created opportunities for industrial upgrading in some emerging market economies. Looking ahead, the construction of a more open, inclusive, and sustainable global trade system necessitates collaborative efforts from governments, businesses, and international organizations.