Deglobalization

The term of deglobalization has derived from some of the very profound change in many developed nations, where trade as a proportion of total economic activity until the 1970s was below previous peak levels in the early 1910s.

The occurrence of deglobalization has strong proponents who have claimed the death of globalization, but is also contested by the former Director-General of the World Trade Organization Pascal Lamy[3] and leading academics such as Michael Bordo[4] who argue that it is too soon to give a good diagnosis and Mervyn Martin [5] who argues that US and UK policies are rational answers to essential temporary problems of even strong nations.

Recently, scientists have started to also compare the major periods of deglobalization in order to better understand drivers and consequences of this phenomenon.

In the 2010s, political institutions are just as significant, but now democratic decisions such as the election of President Trump with an America First agenda[10] and Brexit drive the deglobalization process worldwide.

Those areas that are measurable do suggest other possible measures, including: The multi-dimensional globalization index of KOF Swiss Economic Institute shows a clear break for economic globalization in 2009 in 2015 KOF observed for its overall index: "The level of globalisation worldwide increased rapidly between 1990 and 2007 and has risen only slightly since the Great Recession.

[12] Typically a reduction of the level of international integration of economies and the world economy at large are expected to exert second round effects related to four feedback mechanisms:[13] Deglobalization has also been used as a political agenda item or a term in framing the debate on a new World economic order, for example by Walden Bello in his 2005 book Deglobalization.