Reference News website reported on May 19 that columnist David Fickling of Bloomberg News website wrote an article titled "Nissan's Plight Drags Globalization Down with It" on May 14. The content is compiled as follows: Looking back, January 24, 2018 can almost be regarded as the peak moment of globalization. On that day in Davos, Switzerland, Carlos Ghosn, president of the Nissan-Renault-Mitsubishi Alliance, was asked about his opinion on President Trump's policy of imposing tariffs on washing machines and solar panels. He seemed not worried at all and told a Bloomberg TV reporter: "I don't think anything will lead to a serious outbreak of protectionism." But not long after, Nissan launched an internal investigation which led to Ghosn's arrest later that year and his dramatic escape from Japan in 2019. Nissan announced on May 13 that it would lose 67.09 billion yen (about 4.5 billion US dollars) in the fiscal year ending in March 2024 and planned to close seven of its 17 factories. This indicates that one of the greatest automobile manufacturers in the world might be heading towards its end. The company's stocks are like scrap metal, worth less than a quarter of the company's asset value. If investors had bought the company's stocks and held them since 1975 until now, they would have incurred a loss. Ivan Espinosa, the current CEO of Nissan, is vigorously promoting the company's third restructuring plan within five years. This plan basically follows the plan of his predecessor Makoto Uchida. However, Espinosa's plan is not enough to stop the bleeding. Nissan had the opportunity to solve its problems over the past seven years. During this period, the global automotive industry was undergoing the most important revolution since the invention of the internal combustion engine. But during that time, the company was busy cleaning up the mess left by Ghosn. Even now, about one-sixth of the content in the company's annual performance announcement is about the latest developments of the Ghosn case. This has kept Nissan mired in the mud of the past. Facing industry upheavals, Detroit automakers have always adopted the strategy of shrinking back to their domestic markets to heal. But Nissan cannot do so because it remains an overly globalized enterprise. Starting from 1999, Nissan revived under the leadership of the star executive Carlos Ghosn, who holds French, Brazilian, and Lebanese nationalities. This was a product of the success of globalization. However, beneath the surface of globalization, nationalism has never truly disappeared. Besides the pure decision-making mistakes leading to corporate decline, the agent war between the French and Japanese factions has also played a role in pushing things forward. However, the company's competitors don't have much opportunity to rejoice. Large auto manufacturers retreating into their domestic markets do not create a friendly environment for the leading car companies of almost every country. But Chinese automakers are different; they possess production scale, expertise, and technical advantages in electric vehicles, allowing them to take the lead over other automakers. The best solution to counter this competition is to engage in transnational cooperation. But Nissan's collapse has extinguished all future hopes. Usually, when quarrels arise within the old order, new great powers rise. We see that the same pattern is playing out again for both auto companies and nations alike. (Compiled by Pan Xiaoyan) Original article: https://www.toutiao.com/article/7506076561246978594/ Disclaimer: The article only represents the views of the author. Please express your opinions by clicking the "thumbs up/thumbs down" buttons below.