Future of Globalization. Explorations in light of recent turbulence

Contemporary globalization has been severely jeopardized by recent turmoil. áThe end of the economic expansion of 1990s, the 9/11 tragedy, and the war in Iraq have shocked the international system to an extent not seen in years. Not only has the fairness and adequacy of globalization been doubted by various constituencies for some time now, but lately even its irreversibility has been called into question by the sheer force of geopolitical and economic turbulence.This is a most unfortunate development given that globalizationùthe increasing integration of countries through commerce, investment, movements of people, and modern communicationsùis, on balance, a positive force for growth, poverty alleviation, and security. Interdependence is not always free of transitional tensions, and it has negative aspects that need to be deliberately managed. But good policies and strong institutions at the local, national …