De-Globalization
| Autor | André Jordaan |
| Cargo | University of Pretoria |
| Páginas | 37-74 |
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Latin American Journal of Trade Policy 12 (2022) - ISSN 079-9668 - Universidad de Chile
ABSTRACT
Globalization conveys the widely accepted idea that we
are living in a border-less world. According to this view,
no notice is taken of distance or national policy anymo-
re, dictated by global markets. However, the concept of
de-globalization is starting to appear in literature with
evidence of a growing awareness. It seems that there is
a transition from globalization and trade integration
to economic nationalism or de-globalization. Recent
data suggests that the level of de-globalization is on the
increase globally. This phenomenon may cause vulne-
rable countries to reassess their position in the global
trade environment as conventional trade agreements
and partners may be jeopardized. The COVID-19 pan-
demic has spilled over to the global economy triggering
a massive decline in economic activity, mainly because of
government mandated lockdowns and general mobility
restrictions. This has also had a dramatic effect on the
functioning of global value chains, increasing the visible
threat of de-globalization. Recent trends associated with
the move towards de-globalization among G-20 countries
and concomitant risks are also explored.
Keywords: Globalization – De-globalization – Economic
nationalism – G-20 countries – COVID-19 – Global
value chains.
37
De-Globalization: Fact or Fiction?
André C. Jordaan*
* Professor at the Department of Economics, University of Pretoria, South Africa.
Email: andre.jordaan@up.ac.za. Received: December 06th, 2021; modicatons:
November 23rd 2021; modications: March 15th 2022; accepted: April 18th
2022.
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Latin American Journal of Trade Policy 12 (2022) - Universidad de Chile
RESUMEN
La Ayuda para el Comercio como iniciativa es relativa-
mente reciente, si bien ha sido una idea presente desde los
inicios del en el sistema multilateral de comercio. Luego
de innúmeras presiones de los países en desarrollo, y la
necesidad de dar respuestas al aumento de las asimetrías
en el sistema a raíz de los acuerdos que crearon la OMC,
la iniciativa fue lanzada. Hasta hoy enfrenta muchos de-
safíos, técnicos y políticos, que reejan la política de los
programas de desarrollo por detrás de cada organismo
internacional que la impulsa. La crisis del multilateralis-
mo abrió camino a pensar la Ayuda para el Comercio de
maneras más creativas, por medio de procesos regionales
o de la cooperación Sur-Sur. El objetivo de este artículo es
analizar la iniciativa, a través de sus orígenes, sus desafíos
presentes y futuros, en un mundo en convulsión, donde
se suma una pandemia entre las amenazas a los objetivos
de desarrollo.
Palabras claves: Ayuda para el comercio – Países en De-
sarrollo – OMC – OECD - UNCTAD
39
André C. Jordaan
De-Globalization: Fact or Fiction?
INTRODUCCIÓN
The decline in world trade since the last quarter of 2008
remains one of the most puzzling economic phenomena of the
last decade and has shaken the trust in globalization worldwide
(Tuca, 2013). According to Prelipcean and Bucatar (2019), one
of the most signicant events since the early 21st century is the
transition from globalization and trade integration to economic
nationalism. This contributed to the current umbrella concept
of de-globalization appearing increasingly in the literature
which also forms the focus of this paper. According to Martin
(2018), de-globalization means diminishing integration or a
disintegration of the world economy. The world appears to be
wavering between two alternatives, namely de-globalization
or economic nationalism, or a transition to a very new kind of
globalization. According to Postelnicu, Dinu and Dabija (2015)
de-globalization would mean to condemn an economy to under-
development, backwardness and eventually to a drop-out from
the map of civilization. It would mean the annihilation of the
synergistic effects created by globalization through investments
and trade, which form the essence of economic progress and
development. Even the director of the International Monetary
Fund at the time, Christine Lagarde, warned governments
against protectionism in all its forms, stating that it would affect
all global players, in that it would prevent trade from enhancing
productivity and spreading new technologies (Prelipcean and
Bucatar, 2019). From here, it can be stated that de-globalization
or alternatively, an improved level of economic nationalism, is
the essence of this paper.
Albertoni and Wise (2020) indicate that “nationalism” is a
slippery issue and therefore needs some clarication. For the
purpose of this paper, is important to make a distinction between
political and economic nationalism. Economic nationalism, so-
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