W6 extra: could globalization collapse again?

김동원의 이코노믹스] '세계화의 우등생' 한국, 각자도생의 탈세계화 ...


Unlike globalization, in which global countries show strong interactions and interdependencies with each other, there are also moves to reduce cross-border exchanges and take the opposite path to integration. It is also called deglobalization. It appears in various ranges, including politics, economy and culture, but takes particular economic forms. Changing the direction of policy from free trade to protectionism and coming up with a new pump-priming policy are examples. Of course, such moves exist, but I don't think globalization will collapse. This is because many countries already have deep interactions with many countries and think they will fall into economic crisis around the world if they disappear. In particular, such risks will do more harm to countries with high trade dependence, such as South Korea. Nevertheless, I think it is better to come up with a solution at the national level because the movement for globalization will continue to emerge. Revitalizing the domestic economy will be the case.

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