The Slowdown in Globalization

Since the financial crisis of 2007-2008, world trade has been growing more slowly than GDP. The slowing of globalization has become intertwined with discussions of supply chain resiliency over the last few years. Europe's reliance on Russian energy led to a greater focus on supply chain diversification in the wake of the Russian invasion of Ukraine. In the United States, there's been a lot of talk about job losses to low wage international competitors.