Regional strategy and the demise of globalization

The controversy over globalization and its implications for strategies of multinational enterprises (MNEs) would disappear if authors would look at the evidence. Both aggregate data and firm-level data indicate that globalization is a myth however defined. Instead, the world's business is mainly conducted within the triad economic blocks of the European Union (EU), North America, and Asia. MNEs perform internationally, but the vast majority has an average of 80% of their sales within their home region of the triad. Professors of international business need to refocus from global strategy towards new thinking about triad strategy.