Recently, the idea that globalisation is dead has yet again found its way into many Western press and media outlets. The question must surely be asked: Is it even possible for globalisation to die?
When viewed with only Western eyes, globalisation may not seem as lively as it used to be. The sense of the death of an era certainly seems to be in the air. Indeed, it may well be the case that a mostly Western influence over globalisation processes may be waning.
Still, that does not mean that globalisation is dead. After all, globalisation looks quite different today to the guy on Wall Street than it does for a similar type of guy in Shanghai. Globalisation does not die; it transforms.
In just pure economic terms, globalisation is very much alive. Global trade reached a record level of $28.5 trillion in 2021. This represents a 25% increase on 2020 and is 13% higher when compared to 2019, before the global COVID-19 pandemic.
There have certainly been significant supply-chain problems since the COVID-19 lockdowns. That has disrupted global trade. The Russian invasion of Ukraine has not helped either. Moreover, it is certainly symbolic to see global companies such as McDonald’s and Starbucks pull out of Russia. The world is changing.
However, we are still living in a highly globalised world that structures how the world operates and how many people think about their shared global space.