Cape Peron sunset

Is globalization at risk?


7 min read

The current rules of international trade are being tested by a number of forces and the nature of globalization is changing, even as the digital revolution continues to increase global connectivity.

Challenges presented by geopolitical conflict and instability, the pandemic and other developments have exposed weaknesses in global supply chains. The traditional role of currency as a lever of globalization is under debate. Concerns about energy security, sustainability and human rights have raised questions for the theoretical underpinnings of the international trading system. The World Trade Organization itself may be facing an existential crisis as members increasingly question multilateral models for international engagement.

The third webinar in our World in Transition series featured keynote speaker Pascal Lamy, former Director-General of the WTO, who shared his views on globalization before joining our panel for a lively discussion. Our expert panel included Mercedes-Benz Group CCO Jürgen Gleichauf, BBC journalist Dharshini David and Kioxia America Senior Vice President and General Counsel Julius Christensen.

You can access a recording of the webinar here: Is globalization at risk?

See findings from the webinar presented in the graphic below

Pascal Lamy

Pascal Lamy, Chair of the Paris Peace Forum, Former Director-General, World Trade Organization

Pascal Lamy ( is the President of the Paris Peace Forum and of the European branch of the Brunswick Group. He coordinates the Jacques Delors Institutes (Paris, Berlin, Brussels).

He is also President or member of various boards with a global, european or french vocation (European Starfish Mission (ocean), Mo Ibrahim Foundation, European Climate Foundation, IFPRI, PECC, CERRE, TMEA, Antarctica 2020, Transparency International, Alpbach Forum, Beijing Forum, World Trade Forum, WEF, Global Risks, Europaeum, Collegium international, Musiciens du Louvre, Institut Mendes-France, Colbert Foundation, etc.).

He is an affiliated professor at the China Europe International Business School CEIBS (Shanghai) and at HEC (Paris).

From 2005 to 2013, Pascal Lamy served two consecutive terms as Director General of the World Trade Organization (WTO). He was previously Trade Commissioner (1999-2004), Director General of Crédit Lyonnais (1994-1999), Chief of Staff of the President of the European Commission, Jacques Delors and his G7 Sherpa (1985-1994), Deputy Chief of Staff of the French Prime Minister (1983-1985) and to the French Minister of the Economy and Finance (1981-1983).

Last publication "Strange new world" (Odile Jacob 2020), "Où va le monde ?" (Odile Jacob 2018).

Julius Christensen

Julius Christensen, KIOXIA America, Inc. (formerly Toshiba Memory America, Inc.)

Julius G. Christensen is Senior Vice President and General Counsel of Kioxia America, Inc. (formerly Toshiba Memory America, Inc.) Prior to joining Kioxia America, Inc., Mr. Christensen served as Executive Vice President, General Counsel, and Secretary of Western Bancorp, a company traded on the Nasdaq National Market until its acquisition by U.S. Bancorp.  Prior to Western Bancorp, Mr. Christensen was an associate in the General Practice Group of Sullivan & Cromwell, where his practice included mergers and acquisitions and securities offerings. Mr. Christensen holds a Juris Doctor degree from Harvard Law School and Bachelor of Arts degree in philosophy from the University of California, Los Angeles.

Dharshini David

Dharshini David, Global Trade Correspondent, BBC

A highly experienced broadcaster and economist, Dharshini covers financial news for the BBC. In January 2020she was appointed to be the BBC's Global Trade Correspondent. Prior to that she was covering BBC's Economics Editor's brief across national TV and Radio and online and presents business news for Radio 4's Today programme. She is as comfortable holding policymakers to account as explaining complex concepts to general audiences. She started her career as an economist in government, and was subsequently HSBC Investment Bank's UK Economist. She left the trading floor to cover financial stories for the BBC in London and went onto present Panorama and the BBC's Wall Street coverage from New York as the financial crisis took hold. She has also presented business, political and general news programmes for Sky News, including the flagship "Sky News Tonight" show alongside Adam Boulton.

Dharshini is the author of "The Almighty Dollar" (Elliott & Thompson 2018) which explains in accessible terms the economic foundations that underpin the modern world. She is a highly experienced and versatile conference chair and speaker.

During her career, Dharshini has advised Tesco's board, and its then CEO Sir Terry Leahy, on broadcast media strategy, acted as an economic consultant to Daiwa Bank, and sat as a non-executive member of one of the Financial Conduct Authority's boards.

Jürgen Gleichauf

Jürgen Gleichauf, Chief Compliance Officer, Vice President Legal Product & Technology, Mercedes-Benz Group AG

Jürgen joined Daimler in 1998 as an in-house attorney. Initially, he was responsible for purchasing law, logistics, and IT at smart and then at Daimler Chrysler. In 2003, he transferred to the procurement department of Mercedes-Benz Cars and Vans. From 2010 to 2012, he worked overseas with Mercedes-Benz South Africa and was leading the purchasing export department. Back in Germany, he took over responsibilities as Divisional Compliance Officer of Mercedes-Benz Cars before becoming Head of Legal Processes and Prevention in 2016. In November 2017, Jürgen became Vice President Legal Product & Technical Compliance in the Integrity and Legal Affairs division of Daimler AG and, additionally, took over the CCO role for Daimler AG (renamed to Mercedes-Benz Group AG in 2022) in 2021.

Jacquelyn MacLennan

Jacquelyn MacLennan, Partner, White & Case

Jacquelyn MacLennan offers a wealth of experience for clients worldwide, representing leading multinational corporations, governments and trade associations.

She focuses on EU competition law, and clients benefit from her experience and insight in developing strategy and running major international cartel investigations, as well as advising on complex distribution problems and licensing arrangements, abuse of dominance cases, mergers and joint ventures.

Jacquelyn is a core team member of the firm's Business & Human Rights Interest Group and advises on a wide range of issues related to ESG and sustainability, including corporate supply chain compliance, disclosure requirements, and Business & Human Rights issues generally.

She also advises on EU customs and trade law, international sanctions, and EU regulatory requirements, notably in respect to product safety and environmental regulation.

With an impressive track record of experience and know-how, Jacquelyn litigates regularly before the EU and UK courts, and represents clients before the European Commission.

Jacquelyn has accumulated substantial management experience over her career; she has been a Member of the Partnership Committee (the main governance body) of White & Case, a Member of the Executive Committee (responsible for the firm's strategy), and Executive Partner heading the Brussels office. In October 2015, she became the Global Pro Bono Practice Leader.

Clients describe Jacquelyn as "excellent – an industry leader in antitrust matters" and "commercially-minded and solution-oriented." (Chambers Europe, 2016)

Jasper Wauters

Jasper Wauters, Partner, White & Case

Jasper M. Wauters is a litigator who leads the Geneva office's international trade and regulatory practice at White & Case.

Jasper frequently represents sovereign and private clients in international dispute settlement proceedings, including in international arbitration and State-to-State WTO disputes. He builds on more than twenty years of professional experience in international dispute settlement, both in private practice and as a member of the WTO Secretariat, in which capacity he served as a Legal Affairs Officer advising dispute settlement panels on the resolution of legal claims in over a dozen of international disputes.

Jasper also advises leading industry players in a broad range of business sectors on regulatory matters in relation to consumer goods, including technical standards, product safety and labelling. He counsels clients on all issues related to environmental compliance including before the European Court of Justice and provides guidance on the regulatory and enforcement frameworks for emerging technologies and novel products.

Sports-related clients have benefited from Jasper's advice navigating internal regulations of international sports federations based in Switzerland and on matters related to EU law. Jasper's sports law practice includes advising a major international sports federation on setting up an internal dispute resolution mechanism and counselling clients on broadcasting rights and potential liabilities resulting from domestic advertising regulations. Jasper was recently appointed as an arbitrator at the Court of Arbitration for Sport (CAS) confirming his "recognized competence with regard to sports law."

Jasper previously practiced as a lawyer in a major Brussels-based law firm, where he advised clients conducting business in the European Union on matters relating to European competition law, EU public and regulatory law and intellectual property law.

Jasper's expertise is recognized through his listing as a "Leading Individual" in Legal 500, and as a Band 1 practitioner in Chambers Global 2020. In addition, Who's Who Legal made Mr. Wauters their "most highly regarded individual" of the Geneva trade bar stating also that Jasper Wauters is known as a "fierce litigator" with one prominent peer stating, "He is at the top of his game; I have only experienced and heard excellent things about him."