With globalization in disrepute, how should the world’s trading powers set about fashioning a new set of rules and relationships? What might “Globalization 2.0” look like?
Today, the assumption that has upheld the U.S.-led economic order since the fall of the Soviet Union – that free trade is sacrosanct – is crumbling before a wave of protectionism. America itself is a big part of that wave, moving to secure its independence and shore up its strength in strategic areas of the 21st-century economy, such as top-end microchips and green manufacturing.
Why We Wrote This
Globalization, in disrepute, is on the retreat before protectionism. But free trade has underpinned the world economy for decades. What might a new framework look like?
But what is it that has powered growth for the past several decades? Ever freer trade. Hence the need for a new framework.
Washington has a longer-term interest in not seeing global…
