Globalization has given rise to legitimate frustrations and concerns, which can’t be assuaged simply by recalling the enormous benefits it has brought. But, rather than trying to roll back globalization, we have no choice but to try to make it work better.
MADRID – The COVID-19 pandemic has prompted much reflection on the state of globalization, its drawbacks at a time of worldwide disruption, and the supposed benefits of retreating to the national sphere. In this sense, as in many others, the current crisis has accelerated pre-existing tendencies. The global trade-to-GDP ratio – one of the main indicators of globalization – has followed a downward trend since 2012, and anti-globalist political movements have been gaining in popularity for some time.
MADRID – The COVID-19 pandemic has prompted much reflection on the state of globalization, its drawbacks at a time of worldwide disruption, and the supposed benefits of retreating to the national sphere. In this sense, as in many others, the current crisis has accelerated pre-existing tendencies. The global trade-to-GDP ratio – one of the main indicators of globalization – has followed a downward trend since 2012, and anti-globalist political movements have been gaining in popularity for some time.