What we’re seeing in front of us right now is deglobalization. You’re going to see nation-states look internally and make sure they have the ability to support themselves.
Take Germany for example. Germany’s strategy up to this point was to outsource their military to the US, their financial management to the EU, their energy supply to Russia, and their end market to China. This was the complete globalization of an economy. You can see at this point, I think they’re in extreme trouble.
Founder and CEO, Moelis & Co.