Globalization Marches On
Today’s alarmism about the end of globalization is misplaced. In fact, the current crisis may actually shift policies in favor of more globalization, not less, as is suggested by remarkable commitment to efforts – largely successful – to prevent backsliding into protectionism.
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LONDON – In a recent symposium in the Financial Times on globalization’s prospects in 2011, the columnist Gideon Rachman observed that, “When Barack Obama visited India recently, the US President warned his hosts that the debate about globalization has reopened in the West,” and that “a backlash…is forming…and growing in advanced economies.”