The End of Globalization?

The decline of globalization has been underway for decades.

Restrictions and obstacles began fraying global supply chain connections at the start of the 21st century. Nativism has hindered free trade and immigration, and China’s disregard for the global financial order has engendered a backlash from the West. Since 2016, both the Trump and Biden administrations have been returning manufacturing to the United States under the guise of national pride and security.

Moscow’s 2022 aggression against Ukraine and the West’s broad sanctions on Russia in retribution are accelerating a breakdown in global economic integration...