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

摘要

Stephen King has written his book in a racy style for an impatient person to understand the status of globalization in the context of the churning that is taking place in the global economy with shifting political ideologies from left to centre and right of centre in different parts of the world. After reading the book it is difficult to conclude whether he has succeeded in justifying the six claims he has made in his introduction. This is because he has not given a clear definition of globalization. Perhaps globalization has assumed many dimensions and has become too complex to define. The very fact that global institutions such as the UN and its bodies, the IMF, World Bank and the WTO continue to function, however debilitated they may be, and the reinforcement of faith in those institutions by the world leaders time and again, gives an assurance that globalization is not dead. The Taormina summit meeting of the G7 held on 26-27 May 2017 reiterates the leaders' commitment to keep markets open and to fight against protectionism. King is, however, sceptical as to the future course of countries' actions in the light of Trump's declaration of the 'America First' doctrine. But Mr Trump was a signatory to the G7 declaration.