Globalization is a force that has transformed our world in ways both remarkable and challenging. From the historic wave of trade liberalizations in the late 20th century to the monumental rise of China, an intricate interplay of a range of forces has molded the interconnected nature of our planet. Along the way, we have witnessed the decline of manufacturing in advanced economies and the far-reaching impacts of trade on global poverty, inequality, and labor markets. Despite a rapid advance for two decades, globalization slowed after the 2008–2009 financial crisis, but it did not come to a halt. But we have witnessed in recent years a backlash against globalization, particularly in some of the world’s largest economies, including two of globalization’s bastions, the United States and Great Britain. So, is the world economy deglobalizing? Is globalization in crisis? And are we witnessing the beginning of a new era?Pinelopi (Penny) Koujianou Goldberg is the Elihu Professor of Economics at Yale University and the former chief economist of the World Bank Group. Penny was recently in Oslo to deliver the WIDER Annual lecture. We used that opportunity to engage in a discussion centred around her latest book with Greg Larson – The Unequal Effects of Globalization. @PennyG_YaleKey highlightsIntroduction - 00:24Globalization and development - 03:13Winners and losers of hyperglobalization - 09:00Reasons for dissatisfaction in the Global South - 16:22Backlash against globalization in the Global North - 26:40How China and many others benefited from globalization - 33:44TRIPS waiverand manufacturing capacity - 41:26Climate disruption and future of multilateralism - 45:40Is degrowth feasible? – 52:40HostProfessor Dan Banik (@danbanik @GlobalDevPod)Apple Google Spotify YouTubeSubscribe: https://globaldevpod.substack.com/ Host:Dan Banik LinkedInX: @danbanik @GlobalDevPod Subscribe:Apple Spotify YouTubehttps://in-pursuit-of-development.simplecast.com

Ask this episode

“What did the council decide on item 42?” — answered with the speaker and the moment.

Transcript

Related