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abdelal_passed its peak

abdelal_passed its peak - Has Globalization Passed Its Peak...

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Has Globalization Passed Its Peak? By Rawi Abdelal and Adam Segal The End of the World As We Know It Not very long ago most governments seemed to embrace economic globalization, and sought to liberalize their economies to maximize the gains brought on by rapid technological change and an expansion into international markets A number of events have since changed this view, namely the financial crises of the 1990s (mostly in Asia, Russia, and Latin America), and the subsequent drop in the value of the U.S. dollar The rules that oblige governments to keep their markets open have weakened considerably in the past few years, which leads to the question of whether integration will continue or grind to a halt The picture is muddied, however, as the technological revolution that has driven the current wave of globalization will continue, but at the same time certain barriers will start to rise Double Vision The major participants in the process of globalization (United States and European Union) have always had two very different visions of how it should progress, and this conflict has weakened the foundations of globalization in recent years On one side is the U.S., whose policymakers tend to be skeptical of global rules
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