The end of sovereignty?

Never before in human history have people, information and capital moved across borders at the speed, frequency and volume we see today. These global forces have blunted the ability of individual sovereign states to shape their own economic destinies. The rising tide of nationalism around the world today is in many ways their response to this diminishing influence.

Beyond the potential geopolitical and social disruptions, this escalating tussle between globalization and nationalism could have profound implications for global financial markets, historical investment frameworks and traditional asset allocation approaches.

For our new white paper, we draw on the insights of an array of PGIM investment professionals— as well as leading academics and foreign policy experts—to discuss the most relevant geopolitical themes, the potential winners and losers, and the implications for investors and portfolios. Here at PGIM we believe investors who look beyond the near-term “noise” to understand the longerterm tug-of-war between globalization and nationalism should be best positioned to navigate these uncertain times.