Grave new world: The end of globalization, the return of history

摘要

Economists have long considered globalization, particularly the system of free trade, facilitated by the World Trade Organization (WTO) and a host of bilateral and multilateral trade agreements between countries, all backed by the United States dollar, to be the recipe for prosperity. Economists' faith in the "gains from trade" is closely held and has resulted in a consistent disciplinary policy prescription for countries around the world that has been reinforced through the work of the WTO, the International Monetary Fund (IMF), and the World Bank. Some countries, however, are now rejecting previous trade deals and embracing protectionist policies in spite of the economic consensus on free trade. Stephen D. King shares his perspective on why this shift is occurring in his recently published book, Grave New World: The End of Globalization, the Return of History.