Will this sentiment persist? As I never fail to stress, I do not forecast, and hence I am not offering any specific numbers concerning the retreat or continuation of the pre-COVID levels of globalization in general, or of the reshoring of manufacturing capacities in particular. I just try to appraise the range of the most likely outcomes, and while in recent years it has looked increasingly as if most aspects of globalization will not soar to new highs, in 2020 this notion became entirely unexceptional: we may have seen the peak of globalization, and its ebb may last not just for years but for
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