The benefits of global trade and investment have driven success stories in Asia, Latin America, Africa and other areas. Even in the United States, where Donald Trump made protectionism a major part of his political platform, trade has added more than $1 trillion annually to national income since World War II. This concise article from journalist Sebastian Mallaby makes an intriguing argument that the post-2008 retreat from the previous dizzying levels of capital flows and trade is a structural transformation of the world economy rather than a reversal of globalization. getAbstract recommends his novel perspective to anyone interested in understanding globalization’s many nuances.
In this summary, you will learn
- Why the post-2008 drop in trade and capital flows may not be such a negative and
- Why changes in the world economy may constitute a structural transformation rather than a reversal of globalization.
About the Author
Sebastian Mallaby is a senior fellow at the Council on Foreign Relations and the author of The Man Who Knew: The Life & Times of Alan Greenspan.