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Deglobalization’s Dangers

Summary:
Add to Bookmarks The COVID-19 pandemic has fueled growing calls from political leaders in rich countries for an overhaul of global production and trade. But reshoring and protectionism are unlikely to be a panacea for a depressed and disrupted world economy. In this Big Picture, Harvard’s Dani Rodrik is optimistic, noting that although the retreat from hyper-globalism could potentially endanger human prosperity, it could also result in a more sensible, less intrusive model that focuses on areas where international cooperation truly pays off. Richard N. Haass of the Council on Foreign Relations hopes so,

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The COVID-19 pandemic has fueled growing calls from political leaders in rich countries for an overhaul of global production and trade. But reshoring and protectionism are unlikely to be a panacea for a depressed and disrupted world economy.

In this Big Picture, Harvard’s Dani Rodrik is optimistic, noting that although the retreat from hyper-globalism could potentially endanger human prosperity, it could also result in a more sensible, less intrusive model that focuses on areas where international cooperation truly pays off. Richard N. Haass of the Council on Foreign Relations hopes so, because governments cannot ignore or wish away globalization: only effective multilateral action can tackle threats such as disease, climate change, cyber-attacks, nuclear proliferation, and terrorism.

But

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