Global trade is entering a more complicated phase. It is no longer outpacing global GDP, and the ideas that once drove seamless globalization are increasingly under pressure. In this episode, host Anirban Chowdhury speaks with Tobias Meyer, CEO of DHL Group, to cut through the rhetoric around “deglobalization” and focus on what is actually happening to trade flows and supply chains. Rather than collapsing, supply chains are being reworked—spread across more locations, stretched across longer routes, and shaped by political risk as much as cost. The conversation examines how US trade policy and intensifying strategic competition with China are influencing manufacturing choices and capital allocation. India and South Asia appear as potential beneficiaries, but not without limits imposed by infrastructure gaps, cost structures, and execution challenges. The episode also looks beyond policy, into logistics resilience, technology adoption, and the physical realities that still constrain commerce.

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