Are Countries Finding it too Risky to Open Industries to Foreign Competition

Are Countries Finding it too Risky to Open Industries to Foreign Competition?

Trying to protect markets, developing nations mostly, are being more careful as to what is open to foreign capital while simultaneously promoting specific state-owned industries.

Citing India’s recent action of revoking Pfizer’s patent for its cancer drug Sutent and granting a domestic manufacturer, Cipla, the right to produce a generic version of the drug, Ian Bremmer of the Harvard Business Review, makes the case that globalization is taking a different turn.

Bremer argues that a “guarded globalization” is taking place as a result of the recession. Trying to protect markets, developing nations mostly, are being more careful as to what is open to foreign capital while simultaneously promoting specific state-owned industries.

For more, read “The New Rules of Globalization” in the Harvard Business Review.

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