November 2022: Is globalisation really doomed?

By André Sapir

There is a view that globalisation is in retreat. It has produced immense wealth, but has also generated huge inequality, leading to an economic and political backlash. Not everyone agrees with this view, though globalisation is seen as under geopolitical threat, in particular because of the rivalry between China and the United States, and the war between Russia and Ukraine, which both pit autocracies against democracies. So, is the current wave of globalisation that started three decades ago already over or at least doomed, and if so, should we rejoice or lament?

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