Life in interesting times: globalisation going into reverse?
Is the pace of globalisation slowing down or even going into reverse? There has been quite a lot of questioning of what is happening to international economic integration in recent years, largely based on unusually low growth in cross-border trade.
As Ireland is one of the most globalised economies in the world, and as our prosperity is dependent on what happens in the global economy, this question is more important for us than for most other countries.
If one had only been paying attention to Ireland's globalisation performance recently, it might seem odd to be even posing the question - after all, in terms of the performance of exports and foreign direct investment, last year was the best since the Celtic Tiger period of the late 1990s.