In The News

Brexit and Bust: Britain Plunges Into the Unknown

Daniel Twining June 23, 2016
The United Kingdom's decision to leave the European Union has shocked the world and is a wake-up call for the single market of 28 nations and more than 500 million people. The fury over economic and political cooperation that led to the referendum could intensify. “In unsettling ways, the June 23 referendum has put the future of Europe, the transatlantic alliance and the international...

Guess What Else Climate Change Hurts? Globalization

Eric Roston June 15, 2016
Multinational corporations rely on supply chains, and climate change could disrupt the efficiency. Weather-related disasters from flooding, droughts and wildfires cost billions of dollars in damage. “Manufacturing these days involves facilities in multiple countries, each of which has a sequential role in taking raw materials a step closer to being finished products,” reports Eric Roston for...

The Rise of Manufacturing Marks the Fall of Globalization

Rebecca Keller June 10, 2016
The many parts of complex machinery are sourced for now from multiple countries. “Over the past century, finished products made in a single country have become increasingly hard to find as globalization – weighted a term as it is – has stretched supply chains to the ends of the Earth,” writes Rebecca Keller for Stratfor. She points out that automation, robotics and computerization will gradually...

The New Backlash Against Globalization

Harold James June 9, 2016
Globalization has shifted in recent years and the anti-globalization movement has, too, with more focus on immigration than trade. In an essay for Project Syndicate, Harold James, professor of history at Princeton University, suggests trends in travel may contribute to diminished trust. Many people embark on global travel, but with “quick, superficial experiences” rather than immersion in another...

What Macroeconomists Are Missing

Andrew Sheng May 25, 2016
Mainstream economic models failed to predict the 2007 global economic crisis. In an essay for CaixinOnline, Andrew Sheng suggests that the models overlook the impact of uncertainty and that fragmented analysis neglects global connections: “[S]pecialists and departmental agencies know more and more about less and less and are unable to connect the dots to view the economic and social system as a...

Is Globalization Really Fueling Populism?

Daniel Gros May 9, 2016
An angry populism – a belief that ordinary citizens, not elites, should control government while avoiding centrism and compromise – is on the rise in Europe and the United States. Daniel Gros questions the suggestion that the so-called losers of globalization are fueling such populism, suggesting the trends are not new. Inequality in education levels is not new, and workers with more education...

Globalization Is More About Data and Less About Stuff

Susan Lund, James Manyika and Jacques Bughin March 18, 2016
Recent trends in globalization emphasize cross-border data and digital flows, argues a team from McKinsey Global Institute, an argument that coincides with YaleGlobal’s definition of globalization as the interconnectedness of the world in every area including trade and communications. “Today growth in global trade has flattened, and it looks unlikely to regain its previous peak relative to world...