The process of globalization is under adjustment as President Donald Trump implements his policies to bring manufacturing back to America, a top business executive said over the weekend.
Speaking to CNBC on the sidelines of the China Development Forum in Beijing, Dow Chemical CEO Andrew Liveris said the U.S. has to readjust after allowing unfettered access into its economy for both importers and investors.
"Think about it this way: America pretty, much since World War 2, has been a consumption economy. In essence, you can import pretty much anything to America and sell it in America in any retail environment or in the channel you want. To invest in America, there hasn't been any incentive to invest other than the market," he said.
"Every other economy is an investment economy — even Europe has protections around investment. So I would say to you there is a re-calibration going on globalization," he added.