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Foreign Affairs

Why Globalization Stalled and How to Restart it


For many decades after World War II, a broad range of countries shared a fundamental economic vision. They endorsed an increasingly open system for trade in goods and services, supported by international institutions; allowed capital, corporations, and, to a lesser extent, people to flow freely across borders; and encouraged the rapid spread of data and technology. As trade expanded, global living standards improved dramatically, and hundreds of millions of people escaped from poverty. Today, every aspect of this globalized economy is under assault.

Why did globalization stall and how should it be restarted? On this topic, Fred Hu, founder and chairman of Primavera Capital Group, and economist and Nobel Laureate Mike Spence published an article on Foreign Affairs.

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