The objective of this article is to analyze the evolution of logistics in three different contexts: past, present and future. By looking at where the concept of logistics began and the point it has now reached, we can understand and better anticipate the trends and logistical challenges of the future. We live in an era where digitalization is increasing rapidly, which enables us to obtain more data, more transparency, a greater capacity for anticipating change and a greater automatization of processes. In addition, the health crisis of COVID-19 has only accelerated the use of electronic devices and online tools, as shown by the increasing figures in e-commerce over the last two years. However, the pandemic has also shone a spotlight on the need to rethink the current logistical model. Aspects such as globalization, sustainability, resilience or security throughout the supply chain are in question. In this changing context, the skills and competencies of logistics professionals will undoubtedly decide future success.
The globalisation of financial markets has been based on several factors that have enabled their integration. Two of them are financial deregulation and free movement of capital. Especially relevant to this change has been technological progress regarding the connection between markets. This has encouraged and standardised systems for settling and compensating transactions, speeded up trading with integrated services from different markets, and improved the risk-benefit ratio for investors.
As a result of such big change in the economic environment as well as the financial system and its communication patterns, new innovative financial products have been developed. Their aim is to provide protection from growing volatility and increased risk in all financial transactions.
The negative side of globalisation and the high interconnection between markets is the contagion effect of financial crises. The most recent example is the sub-prime crisis that sparked off in the United States in 2007. This caused a drop in liquidity on the global credit market, which in turn affected the economy of several countries, and showed the weakness of the global financial system and its regulatory framework.