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Backtracking from Globalization

Author

Listed:
  • Hillebrand Evan E

    (University of Kentucky)

  • Lewer Joshua J.

    (Bradley University)

  • Zagardo Janice Turtora

    (Bradley University)

Abstract

This paper offers a global perspective of the political economy of the liberal trading system since the Great Depression and examines four major intellectual and socio-political challenges facing international trade and globalization going forward, including: (1) income redistribution, (2) the rise of Asia and a potential shift in comparative advantage, (3) the rise of China and the national security argument, and (4) the lack of compelling dynamic evidence supporting free trade. Given the growing domestic and global discontent with free trade, and the fact that these exacerbating issues remain, this paper suggests that U.S. and global trade policies may shift away from the liberal trading system.

Suggested Citation

  • Hillebrand Evan E & Lewer Joshua J. & Zagardo Janice Turtora, 2011. "Backtracking from Globalization," Global Economy Journal, De Gruyter, vol. 10(4), pages 1-19, January.
    • Handle: RePEc:bpj:glecon:v:10:y:2011:i:4:n:6
    DOI: 10.2202/1524-5861.1609
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    3. Inna Yefimova & Olexander Karnaykhov & Volodymyr Reznichenko, 2018. "Economic And Legal Factors Influencing Social Relations In The State," Baltic Journal of Economic Studies, Publishing house "Baltija Publishing", vol. 4(3).
    4. Leon Podkaminer, 2014. "Does trade drive global output growth?," Bank i Kredyt, Narodowy Bank Polski, vol. 45(4), pages 311-330.
    5. Naude, Wim, 2009. "The Global Economic Crisis after One Year: Is a New Paradigm for Recovery in Developing Countries Emerging?," WIDER Working Papers UNU-WIDER UNU Policy Brie, World Institute for Development Economic Research (UNU-WIDER).
    6. Naude Wim, 2011. "Global Finance after the Crisis: Reform Imperatives and Vested Interests," Global Economy Journal, De Gruyter, vol. 11(2), pages 1-22, July.
    7. Leon Podkaminer, 2021. "Does trade support global output growth? Further evidence on the global trade – global output connection," Bank i Kredyt, Narodowy Bank Polski, vol. 52(1), pages 23-36.

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