In <i>The Retreat of Globalisation</i>, award-winning fund manager Gervais Williams outlines why we are entering a period when the culture of financial markets will change more in three years than it has in the last 30. Globalisation has been running into headwinds for a while, but until recently few appreciated that it had already passed its high-water mark. With the benefit of hindsight, we can now see events like Brexit and the election of Donald Trump in the context of a new social – and economic – trajectory. Markets have already entered a period of flux. Social disenchantment with globalisation was already a political issue. But the market implications of a retreat from globalisation remain greatly under-appreciated. How can savers know what might constitute the best stocks in this changed world? <i>The Retreat of Globalisation</i> argues for some unconventional yardsticks going forward. The answers may seem counter-intuitive to those who have only known one set of economic conditions. But the need to find those answers has never been more pressing. <iframe src="//fast.wistia.net/embed/playlists/qqh7q7okkv?media_0_0%5BautoPlay%5D=false&media_0_0%5BcontrolsVisibleOnLoad%5D=false&theme=tab&version=v1&videoOptions%5BautoPlay%5D=true&videoOptions%5BplayerColor%5D=68b74f&videoOptions%5BvideoHeight%5D=360&videoOptions%5BvideoWidth%5D=640&videoOptions%5BvolumeControl%5D=true" allowtransparency="true" frameborder="0" scrolling="no" class="wistia_playlist" name="wistia_playlist" allowfullscreen mozallowfullscreen webkitallowfullscreen oallowfullscreen msallowfullscreen width="640" height="360"></iframe>
