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March 1, 2013

Is This the End of Globalization?

David Francis, Fiscal Times

AP Photo

In the three decades before the 2008 financial crisis, individual national economies became increasingly global: banks, companies and consumers overseas had a direct impact on the economy here in the United States.

But in recent years, the amount of money flowing across borders has drastically decreased. According to a new report, this represents a drastic shift away from international commerce, with localized markets more dependent on domestic consumption for growth. It could mark the end of modern globalization.

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TAGGED: Globalization, Free Trade, Trade

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