The Specter of Deglobalization

The post-Cold War era witnessed intense globalization, evident in expanding links between countries in economic, technological, demographic, and cultural areas. Today there is increasing fear that globalization is being replaced by rising nationalism, protectionism, territorial aggrandizement, and a new form of Cold War marked by contestation over great power spheres of influence. Although many tendencies to deglobalization are present, they have not yet brought about a complete breakdown of the globalization process, and the power of antiglobalization forces may be overstated. Parallel trends suggest that a form of “truncated globalization” may be emerging, even as antiglobalization backlashes continue in some domains.