Four shades of deglobalization

In very recent times, an earthquake in Japan, a blackout in Texas, the grounding of a container ship in the Suez Canal, the pandemic, and the war in Ukraine have disrupted important supply chains, restricting the flow of essential goods such as microchips, gas, and food, and thus calling into question globalization as we have known it for the past 40 years—starting, that is, with the reforms of Ronald Reagan and Margaret Thatcher and China’s transition to a market economy.

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