Globalization “isn’t the only, or even the real, story of international economics over the past four decades,” writes Shannon K. O’Neil in her latest book The Globalization Myth: Why Regions Matter.

Established in 1954, the Economic Outlook series is a renowned tradition at Chicago Booth, offering some of the nation’s ...

But Rodrik also believes there can be no return to the pre-Trump global system, which relied on one-size-fits-all trade rules enforced by transnational agencies such as the World Trade Organization.

Two recent studies — both largely overlooked — cast considerable doubt on the certainty of this conclusion. One, by researchers for the McKinsey Global Institute, reminds us of how interconnected the ...

Blog posts represent the views of CFR fellows and staff and not those of CFR, which takes no institutional positions. Globalization continues—the widespread predictions of its death were wildly ...

In 2023, the U.S. experienced a trade deficit of $773 billion, with China as its largest trade creditor. The U.S. trade deficit has steadily grown since 2009, regardless of which party held the ...

While trade is no new concept, businesses can become a presence in more areas all over the globe than ever before. But how did this happen? And what business industries experience globalization? Keep ...

Does globalization enhance resilience? Or does it have no effect? Or the opposite effect? For the two major economic disruptions so far this century—the global financial crisis starting in 2008 and ...