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

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.