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Good morning from the Financial Times.

Today is Thursday, November 24th, and this is your FT News Briefing.

We're doing something a little different for this episode,

and today's show we're going to be focusing on one big topic.

The state of de-globalization and how geopolitics

is contributing to this process.

The FT's Martin Wolfe will give us the breakdown.

I'm Mark Filipino, and this is a special episode of the FT News Briefing.

There are concerns that the world is becoming a less global place,

and what I mean by that is that more and more countries are pulling back on global trade.

And there are a lot of examples that back up that theory.

Donald Trump started a trade war with China.

The COVID-19 pandemic put supply chains to the test,

and the war in Ukraine has gotten a lot of countries reconsidering how dependent they should be on

Russian energy. This all points to a de-globalization movement. One where power is fractured,

and countries turn within for their needs, rather than relying on other countries.

The FT's chief economics commentator, Martin Wolfe, recently wrote about the state of globalization,

and he joins me now. Hi, Martin. Hi, good to be with you.

So the column you wrote is specifically about the politics behind globalization.

What's your core thesis here? Well, there are two ways of thinking about the politics.

...