Whither globalization?

How is the war in Ukraine affecting the global economy and globalization? An online debate on the economic consequences of the Ukraine war, hosted by VoxEU, continues. Meanwhile, a new report by the World Trade Organization illustrates the importance of Ukrainian and Russian exports to global trade. The war has already changed the global economy, Adam Tooze argues in Foreign Policy and explains why the Russian ruble is rebounding.

Indeed, the twin shocks of the Ukraine war and China’s lockdowns are hitting global trade hard, writes the Wall Street Journal. But there’s cause to be optimistic about globalization. Here are five reasons, says Alan Beattie in the Financial Times.

Mentioned publications

The economic consequences of the war – VoxEU, 13 April 2022
A series of articles focused on the fallout of Putin’s war on Ukraine. Recent analyses focus on the impact of sanctions on investment by Russian non-financial firms and of tariffs on Russian energy exports, and the future of China’s overseas lending.
The crisis in Ukraine: Implications of the war for global trade and development – World Trade Organization, 11 April 2022
An overview of how the war in Ukraine is disrupting global trade, and in which markets Russian and Ukrainian exports have the greatest impact.
Ukraine’s war has already changed the world’s economy – Adam Tooze, Foreign Policy, 5 April 2022
Have we reached a point where we need to revisit the Bretton Woods accords? Is this the end of globalization or the start of a new integration of the global economy?
The fall and rise of the Russian ruble – Adam Tooze and Cameron Abadi, Foreign Policy, 9 April 2022
The Russian ruble has rebounded to its pre-war value despite ongoing and increasing sanctions. What led to this outcome?
Global trade hit by Ukraine war, China lockdowns – Jason Douglas, The Wall Street Journal, 13 April 2022
Recent economic data reveal a significant slowdown in trade flows in 2022 to date.
Five reasons to be optimistic about the survival of globalization – Op-ed: Alan Beattie, Financial Times, 6 April 2022
Many commentators are currently heralding the end of globalization as we know it. Here are five reasons why this may not be the case.