The new rules of globalization
2008年后全球化进入谨慎阶段，发展中国家政府警惕跨国公司，扩大国家安全定义并扶持国企。高管需根据行业对东道国和母国政府的战略重要性选择策略，如与本地企业结盟或寻找新方式增加海外价值。
Until 2008 going global seemed to make sense for just about every company in the world. Since then, we've entered a different phase, one of guarded globalization. Governments of developing nations have become wary of opening more industries to multinational companies. They are defining national security more broadly and perceiving more and more sectors to be of strategic importance, taking active steps to deter foreign companies from entering them and promoting domestic, often state-owned enterprises. Indeed, the rise of state capitalism in some of the world's most important emerging markets has altered the playing field. To factor globalization's new risks into strategy, executives must consider their industry's strategic importance to the host government and their home government. They can then choose among various approaches: strike alliances with local players, look for new ways to add value abroad, enter multiple sectors, or stay home. INSET: The New Risks.