How globalization became a thing that goes bump in the night

Stephen J. Kobrin ()
Additional contact information
Stephen J. Kobrin: University of Pennsylvania

Journal of International Business Policy, 2020, vol. 3, issue 3, No 6, 280-286

Abstract: Abstract For almost 200 years, globalization has been seen as a positive development, albeit with costs and benefits, and as progress and modernization, a broadening of humanity’s scope from the local and parochial to the cosmopolitan and international. That changed dramatically with the Great Recession, the waves of migration of the last decade, and the global Coronavirus (COVID-19) pandemic of 2020. For many, globalization now connotes economic dislocation, increasing inequality, unwanted immigration, and a vehicle for the transmission of disease. The pandemic reminds us that most economic activity takes place within national borders. It has emphasized the dangers rather than the benefits of efficient linkages between markets, laying bare the dangers of complex global supply chains where any node can become a “choke point”, and the risks of overspecialization or the concentration of technological knowledge and/or production capacity in a single country or region. A more positive view of globalization will require restoring the balance between independence and integration, mitigation of its costs within and between countries, and dealing with redundancy and supply risk.

Keywords: globalization; COVID-19; anti-globalization; supply chains; international economic integration (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (21)

Downloads: (external link)
http://link.springer.com/10.1057/s42214-020-00060-y Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:joibpo:v:3:y:2020:i:3:d:10.1057_s42214-020-00060-y

Ordering information: This journal article can be ordered from
https://www.palgrave.com/gp/journal/42214

DOI: 10.1057/s42214-020-00060-y

Access Statistics for this article

Journal of International Business Policy is currently edited by Sarianna Lundan, Ari Van Assche and Anne Hoekman

More articles in Journal of International Business Policy from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().