Globalisation versus Deglobalisation

Abstract

One of the biggest questions in recent years concerns the future of globalisation. Some argue that the rivalry between the USA and China, certain trade policy restrictions and the repercussions of the coronavirus pandemic that threatened global production and supply chains could mean the end of globalisation. In fact, however, we are witnessing a fundamental transformation of the globalised world economy. Identifying the main directions of change is a crucial task for economists as well as a precondition for prudent economic policy action.