Is globalization’s time up? There are two major, and conflicting, views about this tricky topic. For many economists, free trade is a natural state of the global economic system. Any upheavals – Covid-19, the war between Ukraine and Russia, the resurgence of protectionism - can only result in temporary disruptions which, sooner or later, will be corrected. They are just bursts of irrationality, arising momentarily from political forces upsetting otherwise harmonious economic balance, etc.
