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An economist explains the pros and cons of globalization As we enter the fourth wave of globalization, driven by the digital revolution, there is renewed debate over whether it is a beneficial force: powering economic growth, and allowing the spread of ideas to improve people’s lives; or whether it erodes communities, and widens the gap between the elites and the rest of the world
Globalization and trade bounce back from COVID-19: report | World . . . Reports of the demise of globalization due to COVID-19 have proved premature, says global connectedness report World trade of goods has surged to pre-pandemic levels despite supply chain problems But many countries are facing high inflation rates and developing nations are struggling to recover, with limited access to vaccines
People are angry about globalization. This chart explains why Which explains why, in spite of the progress brought on by globalization, many people are angry – and are starting to voice their frustrations, says Milanovic: “The political implications of a global ‘elephant graph’ are being played out in national political spaces In that space, rising national inequalities, despite being accompanied
The dark side of the digital revolution – and how to fix it The dividends of the digital economy are still unevenly shared A relatively small number of countries including the US (35%), China (13%), Japan (8%) and European Union states (25%) are reaping the benefits of the global digital economy
Globalization Cannot Be Stopped – but It Can and Should Be Better “Globalization’s future is no longer about physical trade It is about knowledge, information and technology Digital trade already accounts for 12% of international trade, and data flows are predicted to increase another fivefold by 2022 The result will inevitably be not less globalization but more, different, globalization,” he continued
Why the world needs better - not less - globalization The globalization of the future will centre on East Asia, which accounts for half of the world’s population and is the fastest-growing economic region The rapid recovery of this region from the COVID-19 crisis and the November 2020 Regional Comprehensive Economic Partnership of 14 Asia-Pacific economies will reinforce its rising economic and
Why connectivity is essential for sustainable globalization | World . . . Globalization has worked wonders for humanity — but it needs a shake-up in the post-COVID world Purpose-led globalization is the new name of the game — and tackling climate change is essential Capital markets have a key role to play in enabling this new phase of globalization