Please stay tuned for important disclosure information at the conclusion of this episode.

Welcome to Investing Insights. I'm your host, Ivana Hampton.

Following the money can reveal how exposed your investments are to geopolitical risk.

Trade tensions and elections could weigh on stock market performance. But you may need to dig deeper into your portfolio to determine

whether domestic or global events could affect it. Morningstar Index's strategist and the

Longview co-host, Dan Lefkowitz, has investigated this.

He'll explain why markets are becoming more interconnected. Check out our conversation.

Welcome to the podcast, Dan. Thanks, Amanda. Great to be with you. Now, your research has questioned

whether globalization is waning. What did you find out that challenged this viewpoint?

Yeah, there are a lot of different ways to look at globalization from an economic perspective.

You could look at trade flows or foreign direct investment. We conduct a study every year where we look

at global stock markets and where the revenues in those markets are coming from. So we have our

Morningstar U.S. Market Index, our Morningstar France Index, our Morning Star Singapore Index, how much of the revenues

in those markets is domestic versus foreign. And when we look at trends over time, we've actually

seen that the majority of the countries that we're looking at are sourcing more revenue

outside of national borders.

So they're becoming more globally connected, which, and that really challenges this popular

narrative that's out there, that globalization is declining, that supply chains are being

brought home.

You hear about onshoreing.

So I thought that was really interesting that the

majority of the countries that we're looking at are becoming more global, more international

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