Although trade in physical goods and financial products and services—the hallmarks of the twentieth-century global economy—has actually flattened or declined in recent years, globalization as measured by flows is “soaring—transmitting information, ideas, and innovation around the world and broadening participation in the global economy” more than ever, concluded a pioneering study on this subject in March 2016 by the McKinsey Global Institute, Digital Globalization: The New Era of Global Flows: “The world is more interconnected than ever.”
