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121. Deglobalisation in the context of United States-China decoupling

Author:
Alicia Garcia-Herrero and Junyun Tan
Publication Date:
12-2020
Content Type:
Policy Brief
Institution:
Bruegel
Abstract:
After decades of increasing globalisation on every front, from trade – pushed further by the growing role of value chains – to technology, movement of people and investment, there now seems to be a turn towards slower globalisation if not deglobalisation, at least in some areas. Deglobalisation is not a new concept but rather a megatrend which has been seen before, for example right before the First World War. Signs of deglobalisation, measured by decelerating trade and investment, and smaller global value chains, started to appear already in 2008. But this trend seems to have accelerated because of the United States’ push to contain China in the context of the strategic competition between the two. Such containment is apparent not only in bilateral trade and investment flows but also in technology. COVID-19 has been a second very important factor contributing to deglobalisation. The most obvious impact has been in movement of people. However, the trend towards deglobalisation is much less evident for finance, with the exception of foreign direct investment, though increasing attempts by the US and China to decouple particular types of financial flows are emerging, including the delisting of Chinese companies from US stock exchanges and the imposition of sanctions for transactions with certain Chinese companies and individuals. Overall, it is too early to confirm the depth and the sustainability of the current wave of deglobalisation, but an increasing number of signals suggest a trend of deglobalisation is underway.
Topic:
Globalization, Bilateral Relations, Geopolitics, Investment, Trade Policy, and COVID-19
Political Geography:
China, Asia, North America, and United States of America

122. The Point of No Return: The 2020 Election and the Crisis of American Foreign Policy

Author:
Thomas Wright
Publication Date:
10-2020
Content Type:
Commentary and Analysis
Institution:
Lowy Institute for International Policy
Abstract:
With the international order weakened by COVID-19, economic recession, and receding American leadership, the 2020 presidential election will be even more consequential than that of 2016. There is no reason to believe that President Trump will follow in the tradition of other Republican presidents and pursue a more multilateral and cooperative strategy in his second term. Emboldened and unconstrained, a second Trump administration could spell the end of the alliance system and the postwar liberal international order. A Biden administration would be a reprieve for the US-led international order, and will act on climate change, COVID-19, immigration, and multilateralism, while Biden will need to adjudicate internal debates on China, the Middle East, globalisation, and foreign economic policy.
Topic:
Foreign Policy, Climate Change, Globalization, Elections, Economic Policy, Donald Trump, COVID-19, International Order, and Joe Biden
Political Geography:
China, Middle East, and United States of America

123. The web of legal pluralism and traditional authorities in Mozambique

Author:
Jorge João Muchacona
Publication Date:
12-2020
Content Type:
Journal Article
Journal:
Brazilian Journal of African Studies
Institution:
Brazilian Journal of African Studies
Abstract:
Legal pluralism is seen as a theory that supports the coexistence of several legal systems within the same society. This is due to the existence of efficient legal systems, simultaneously in the same environment and spacetime. This coexistence of several legal systems in the same space and time has gained historical relevance due to several factors, such as the rupture of the Roman Empire, which resulted in the forced cultural exchange resulting from the barbarian invasions. Colonization also caused a situation in which several rules and customs of different peoples had to coexist, namely between colonized and colonizers. With decolonization, legal systems were created based on the rules of the colonizers, but with specificities and differences of their own. Globalization has also influenced the diversification of legal pluralisms, weakening the role of the state as the sole holder and creator of legal systems.
Topic:
Globalization, Law, Legal Theory, Colonialism, Authority, Pluralism, and Legal Sector
Political Geography:
Africa and Mozambique

124. The post-coronavirus world is already here

Author:
Josep Borrell
Publication Date:
04-2020
Content Type:
Policy Brief
Institution:
European Council on Foreign Relations (ECFR)
Abstract:
The pandemic will likely magnify existing geopolitical dynamics and test the strength of Europe’s democratic systems. Europe needs a new kind of globalisation capable of striking a balance between the advantages of open markets and interdependence, and between the sovereignty and security of countries. Europe should work to prevent the US-China rivalry from having negative repercussions in certain regions of the world – particularly Africa. European leaders need to focus on meeting the immediate needs of healthcare systems, providing an income for people who cannot work, and giving businesses guarantees. The European model will only mean something in the eyes of the world if we can successfully promote solidarity among EU member states.
Topic:
Globalization, Geopolitics, Coronavirus, Pandemic, COVID-19, and Health Crisis
Political Geography:
Africa, China, Europe, and United States of America

125. Covid-19 calls for European strategic autonomy: The EU needs to manage global dependencies without pulling up the drawbridges

Author:
Niklas Helwig
Publication Date:
05-2020
Content Type:
Working Paper
Institution:
Finnish Institute of International Affairs (FIIA)
Abstract:
Covid-19 has revealed the risks of Europe’s global dependencies in strategic sectors and intensified the debate on European strategic autonomy. While some argue for a self-sufficient Europe, a smart approach to globalization is in the EU’s interest.
Topic:
Globalization, Public Health, Pandemic, and COVID-19
Political Geography:
Europe

126. The Power to Engage: Giving Punch to a new EU Global Strategy 2020

Author:
Sven Biscop
Publication Date:
09-2020
Content Type:
Working Paper
Institution:
EGMONT - The Royal Institute for International Relations
Abstract:
I like being a policy-oriented academic: you meet lots of interesting people and you are invited to interesting meetings, so you can really contribute to the debate. Some actors may from time to time think you have an appealing idea, and they may even seek some academic legitimacy for their decisions. But you are of course not present when the actual decisions are being taken. It’s my job and I love it – but this is not the role that the EU itself should play. Europe does not aspire to be the world’s policeman, but it cannot just be the world’s professor either. As the new EU leadership is coming in, we must give punch to our strategy, and make sure we have the power to make our ideas work in the real world. Power, not to confront, but to engage the world.
Topic:
Globalization, Regional Cooperation, European Union, Leadership, and Police
Political Geography:
Europe

127. The Economic Consequences of Globalisation in the United States

Author:
Peter Petri and Meenal Banga
Publication Date:
01-2020
Content Type:
Working Paper
Institution:
Economic Research Institute for ASEAN and East Asia (ERIA)
Abstract:
The unprecedented rise in global interdependence since World War II, especially since the 1970s, has been very productive. World gross domestic product (GDP) growth increased from around 2% per year in the 1970s to 4% per year before the global financial crisis. Globalisation helped to lift a billion people from extreme poverty and improved the lives of billions more. The United States also gained an estimated 11%–19% of its annual GDP. Yet many Americans are concerned about the fairness of these gains. We review evidence of increasing wage inequality and stubborn unemployment effects, even though, on balance, technological change has had a much greater impact on these outcomes than globalisation. Barriers against globalisation do not offer solutions to inequality – they reduce the size of the economic pie without necessarily improving its distribution. Policies should focus on redistributing gains from growth, increasing the productivity of all workers, and helping affected communities adapt socially and economically to rapid change.
Topic:
Globalization, Financial Crisis, Inequality, and Economic Growth
Political Geography:
United States and North America

128. The Modern Agreement of Amity and Commerce: Toward a New Model for Trade Agreements

Author:
Beth Baltzan
Publication Date:
10-2020
Content Type:
Policy Brief
Institution:
Open Society Foundations
Abstract:
Around the world, the process of economic globalization is under fire for serving the needs of corporate elites rather than ordinary citizens. But it is important to recall that trade does not have to aggravate inequality. The rules of globalization matter. If we have better rules for trade, trade will produce better results. In this paper, Beth Baltzan, a trade lawyer with extensive experience in government, proposes a new paradigm for a more equitable trading regime—outlining the key elements of an agreement with the overarching purpose of fostering positive relations between like-minded parties.
Topic:
Globalization, Economic Inequality, Trade, and Trade Policy
Political Geography:
Global

129. Coronavirus: globalisation is not the cause but the remedy

Author:
Blaise Wilfert
Publication Date:
04-2020
Content Type:
Policy Brief
Institution:
Robert Schuman Foundation (RSF)
Abstract:
While the Covid-19 pandemic is unfolding in all its violence, "globalisation", to read more than one, is said to be the great culprit for what is happening to us, whether it has been the lightning speed of the virus' spread, the impotence of States to stop its progression, the inability of "capitalism" to produce medical equipment or the madness of stock market speculation. The logical consequence of this has been the repeated call, with some pathos, urgently to invent the time “after”, after the follies of globalisation. The magnitude of the shock that Covid-19 represents provides an ideal sounding board to replay a tune that is in fact an old one, familiar to us since the 1990s at least, or even the 1980s, but with an incomparable and therefore particularly disturbing echo. Defined both as liberalization - the triumph of the borderless market economy - and as planetarisation - the unification of the planet through flows of all kinds, information, migrants, ideas and representations, tourists, religious practices - globalisation is said to have become a form of disease fatal to the world. Hence to deglobalise[ 1]. Yet, it has to be said again, more than twenty years after Paul Krugman, globalisation is not to blame, and those who currently claim the opposite, with a communicative passion, pretending to draw conclusions from a lucid analysis of the recent past, rely on biased historical narratives to impose a political agenda, whether explicit or implicit. So, let a historian try to say a word about it, since understanding the times we are in requires understanding the times from whence we have come.
Topic:
Globalization, Markets, Coronavirus, and COVID-19
Political Geography:
Global Focus

130. Coronavirus and the Future of Globalization

Author:
Aamer Raza
Publication Date:
12-2020
Content Type:
Journal Article
Journal:
Review of Human Rights
Institution:
Society of Social Science Academics (SSSA)
Abstract:
Coronavirus Pandemic has generated a discussion regarding the future of globalization. This article places this new wave of pessimism regarding the future of globalization in the broader tension surrounding globalization that has existed in international relations discourse since the end of the Cold War. The article points out some of the previous challenges endured by globalization. It also points out that whereas at this point popular media and news commentary portray pessimism as the dominant feeling, the trend towards multilateralism and global cooperation is also discernable in other responses to the pandemic.
Topic:
Security, Globalization, Populism, Multilateralism, Coronavirus, and COVID-19
Political Geography:
Global Focus