Deglobalization
Encyclopedia
Deglobalization, also deglobalisation (chiefly UK/Ireland), refers to a process of diminishing interdependence and integration between certain units around the world, typically nation-states. It stands in contrast to globalization
Globalization
Globalization refers to the increasingly global relationships of culture, people and economic activity. Most often, it refers to economics: the global distribution of the production of goods and services, through reduction of barriers to international trade such as tariffs, export fees, and import...

, in which units become increasingly integrated over time, and generally spans the time between periods of globalization.

While as with globalization, it can refer to economic
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...

, trade
Trade
Trade is the transfer of ownership of goods and services from one person or entity to another. Trade is sometimes loosely called commerce or financial transaction or barter. A network that allows trade is called a market. The original form of trade was barter, the direct exchange of goods and...

, social
Social
The term social refers to a characteristic of living organisms...

, technological, cultural and political dimensions, much of the work that has been conducted in the study of deglobalization refers to the field of international economics
International economics
International economics is concerned with the effects upon economic activity of international differences in productive resources and consumer preferences and the institutions that affect them...

. Periods of deglobalization are seen as interesting comparators to other periods, such as 1850-1914 and 1950-2007, in which globalization has been the norm. Given that globalization is the norm for most people and thus even periods of stagnant international interaction are often seen as periods of deglobalization.

Measures of deglobalization

As with globalization, economic deglobalization can be measured in different ways. These centre around the four main economic flows:
  • Goods and services, e.g. exports plus imports as a proportion of national income or per head of population.
  • Labour/people, e.g. net migration rates; inward or outward migration flows, weighted by population (and resultant remittances in per cent of GDP)
  • Capital, e.g. inward or outward direct investment as a proportion of national income or per head of population

It is generally not thought possible to measure deglobalization through lack of flows of technology, the fourth main flow. Those areas that are measurable do suggest other possible measures, including:
  • Average tariffs
  • Border restrictions on labour
  • Restrictions on foreign direct investment or outward direct investment

Risks of deglobalization

Typically a reduction of the level of international integration of economies (and the world economy at large) are expected to exert second round effects related to four feedback mechanisms
  • a reduction of (the rate of growth) of international trade will feed negatively into to long-run growth
  • a loss of interaction , the co-movement of economies,
  • trade policy feedbacks in the sense that reduced international interaction and lower growth will stimulate protectionism and non-economic issue areas where reduced cooperation among countries and even an increasing risk of international conflict can be expected..

International Political Economy of Deglobalization

Deglobalization has also been used as a political agenda item or a term in framing the debate on a new World Economic order, for example by Walden Bello in his 2005 book Deglobalization

External links

Daily Markets
Deglobalizationblogspot
Econbrowser
Economist's view
Engineering.com
Mr. Globalization
Opinio Juris
Share the world's resources
The curious capitalist
The New Yorker
Walden Bello
The source of this article is wikipedia, the free encyclopedia.  The text of this article is licensed under the GFDL.
 
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