When Globalization Eats Its Young
Evidence that globalization is reversing continues to pile up: trade and international capital flows are sluggish, and migration is increasingly being restricted. But these trends emerged in the aftermath of the 2008 financial crisis, so we can’t blame them on a new populist backlash against globalization.
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PRINCETON – Evidence that globalization is reversing continues to pile up: trade and international capital flows are sluggish, and migration is increasingly being restricted. These trends emerged in the aftermath of the 2008 financial crisis, so they can’t be blamed on a new populist backlash against globalization. Rather, their source can be traced to national authorities’ failure to take the logic of globalization seriously.