From: counting the costs
Crisis after crisis threatens to collapse the global economy after decades of economic integration.
The end of the Cold War, free trade and advances in technology have helped create a global system sensitive to what is happening on the other side of the world.
Globalization is credited with developing economies, increasing incomes and lifting millions of people out of poverty.
But the pandemic and war in Ukraine have exposed the fragility of this economic interdependence.
At the same time, globalization has also been criticized for increasing inequality, and the international charity Oxfam says the world’s richest 1 percent has bagged almost twice as much wealth as everyone else in the last two years.
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