A journey from Globalization to ‘Slowbalization’

Looking back at different eras — from the trade openness of the twentieth century to the stagnation post the financial crisis

Credit: GettyImages/Busakorn Pongparnit

Globalization, the increasing interconnectedness, and interdependence of the world’s economies, societies, and cultures, has undergone several distinct eras since the beginning of the 20th century. It primarily marked the free flow of ideas, people, goods, services, and capital across national borders — leading to greater economic integration. Each era was defined by unique characteristics and drivers, significantly shaping the global landscape.