The current phase of deglobalization has started in 2008/9 well before Brexit and Trump were on the horizon. A decade later openness (world trade in percent of global production) is still below previous peak level with no apparent recovery
We may have reached a stage where economic interactions have become so internationalised that further increases in globalisation cannot deliver greater prospects of peace. But the logic of the capitalist peace still holds water; the intricate nature of the economic interdependence between advanced market economies almost entirely rules out war, but other hostile attitudes can still persist, and even grow. - Mansoob Murshed on deglobalization and the liberal peace
Finbarr Livesey argues that he interpretation of the global economy has been framed as an inevitable journey towards ever greater integration—a story of hyper-globalisation. This article discusses the nature of manufacturing to understand whether this interpretation holds and to investigate the possibility of deglobalisation at the level of physical goods trade in the coming decades, and what that may imply for other non-physical elements of globalisation.