Globalization’s Last Gasp
Determining causality in economics may be elusive, but in the case of world trade it is clear: slower growth is the result of slower global GDP growth, not the other way around. And slower growth in international flows of financial capital may be just what the global economy needs.
LONDON – Does Donald Trump’s election as United States president mean that globalization is dead, or are reports of the process’ demise greatly exaggerated? If globalization is only partly incapacitated, not terminally ill, should we worry? How much will slower trade growth, now in the offing, matter for the global economy?