Journal of
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Archive » April 2023 » Globalisation and fragmentation

Globalisation and fragmentation

Luigi Federico Signorini
April 2023 - n. 4
Keywords: Globalizzazione, economia internazionale
Jel codes: G21, G28, F40

Globalisation has contributed to lasting growth and the sharp reduction of global poverty. Economic integration has been accompanied by an improvement in relations between countries, reinforcing the belief that interdependencies would help preserve peace and development. More recently, however, the race for integration has lost momentum. Protectionist tendencies have emerged in some countries. The pandemic has highlighted fragility of global value chains. Worse, the Russian invasion of Ukraine called into question the principle of peaceful coexistence between nations. Increasing economic barriers would jeopardise the mechanisms that have stimulated growth and reduced global poverty. The difficult challenge is to preserve the functioning of multilateral institutions as far as possible today.

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