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Challenging the deglobalization narrative: Global flows have remained resilient through successive shocks

Author

Listed:
  • Steven A. Altman

    (New York University Stern School of Business
    New York University Stern School of Business)

  • Caroline R. Bastian

    (New York University Stern School of Business)

  • Davis Fattedad

    (New York University Stern School of Business)

Abstract

We challenge the popular narrative that the world has entered a period of deglobalization, arguing that deglobalization is still a risk rather than a current reality. Drawing upon the DHL Global Connectedness Index, we show that international flows have not decreased relative to domestic activity, there is not an ongoing shift from global to regional business, and geopolitically driven shifts in international flows still primarily involve countries at the center of present conflicts. We propose policy and research implications, warning that misperceptions of deglobalization could themselves contribute to costly reductions in international openness.

Suggested Citation

  • Steven A. Altman & Caroline R. Bastian & Davis Fattedad, 2024. "Challenging the deglobalization narrative: Global flows have remained resilient through successive shocks," Journal of International Business Policy, Palgrave Macmillan, vol. 7(4), pages 416-439, December.
    • Handle: RePEc:pal:joibpo:v:7:y:2024:i:4:d:10.1057_s42214-024-00197-0
    DOI: 10.1057/s42214-024-00197-0
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