Despite Trump’s trade wars, globalisation is Eurasia’s to win or lose
The article discusses how Europe and Asia are significant players in the global economy amidst changing trade dynamics fueled by Trump's trade wars.
The article examines the impact of globalization, especially in light of recent trade tensions, particularly those initiated during Trump's presidency. The International Labour Organization's Economic and Social Trends 2026 report highlights that a substantial percentage of global employment, roughly 15.3%, is linked to international trade, emphasizing the importance of foreign demand for job security. In terms of numbers, this accounts for around 465 million jobs worldwide, with Asia and the Pacific and Europe comprising a significant majority of this employment related to trade.
As the report indicates, Asia and Europe combined hold over 80% of jobs that are dependent on trade, suggesting that these regions have a pivotal role in the ongoing narrative of globalization. The implication of this data points toward the fact that despite the threatening nature of protectionist policies and rhetoric, economic interdependence and the need for global trade continue to thrive. The reflective nature of these policies could reshape economic strategies, with Eurasia standing at a crucial juncture where it can either harness or hinder its potential in the global market.
In facing these challenges, the article implies that outcomes will largely depend on how these regions navigate economic collaboration versus isolationist tendencies. The pressing need for innovation and restructuring within these economies to adapt to trade realities is paramount, as they hold the ability to influence global trade flows significantly. Thus, while trade wars may pose immediate threats, the larger narrative of globalization remains, and Eurasia’s response could dictate future economic landscapes.