We already have phenomena like Donald Trump, brexit and populists gaining ground. Will "deglobalization" become more pronounced in this wave? One of the problems is that the promises of globalization largely fail. It should raise the standard of living in low-income countries, and this happened. But it should also improve the lives of middle class and working people in rich countries, and this has not happened. One way to understand the rejection of multilateralism is the very failure of multilateralism. But one way to try to make it successful is to address the critical question you posed, the flight of capital. It is necessary to organize globalization and to know with more transparency where wealth is and how it moves from one country to another. This means, for example, that we can not continue to negotiate with tax havens that do not respect the basic rules of transparency. Because countries and governments lose in this game. This justifies the imposition of li...

John Butler: There will still be economic cycles, but this structural theme of deglobalisation is changing the nature of those cycles and the underlying trends they oscillate around. This is a clear frame break from the past and will be played out over multiple years. While we will likely see an ebb and flow, driven by the broader dynamics of the economic cycle, the path is clear and concerning for economic growth. more

Rana Foroohar:  The wisdom of relying on the equity of US multinationals is now suspect more

I have worked on deglobalization since I became professor at Erasmus University in 2009. Ten years of research have led to many publications. This video lecture shares what I learned and introduces my latest book Deglobalization 2.0. We know globalization from our own experience very well. Increasing trade, foreign investment, travel and international cooperation. But that picture has spun recently as we have entered a period of deglobalization in which openness of the world economy is actually decreasing. According to recent forecasts, deglobalization is here to stay and may even deepen. So don’t you think that we live in strange and usual times? We seem to live in the times of Trumpism, Brexitism and deglobalization. Our epoch definitely feels like something unique. But it is not. Indeed, our grandparents have been here before. Of course, the voices and characters on the world stage are different. But the stories of the Great Depression of the 1930s and the Great Recession, that...

This blog from the New Atlanticist from 2009 is worth rereading. With today's knowledge the analysis makes sense. Underneat the veil of initial recovery Deglobalization indeed set in - well befor Brexit and Trump emerged

A British exit from the European Union wouldn’t just weaken the economies of both parties, but might mark a significant step back from globalisation. Worth re-reading after some years

The last three decades have seen an acceleration of the interconnectedness of the global economy on a number of levels: economic, productive, financial, social, and cultural. Some referred to it as a turbocharged globalisation (Friedman, The Lexus and the olive tree: Understanding globalization. New York: Random House, 2000) since, not only had it been multi-faceted, but it had moved faster than any time before. The 2008 financial crisis has somewhat pushed to the fore the undesirable implications of such global linkages, especially in advanced economies where de-industrialisation, joblessness, and imbalances in the national and regional economies were reducing the responsiveness and resilience of economic systems to face external shocks. This led to the emergence of bottom-up resentment that has shaken political establishments in both the United States and Europe; consider the election of Trump in the United States, the emergence of populist parties in Europe and Brexit. A dislike for...