Updated Rules for International Trade

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Globalization refers to the process of connecting the world economy more closely through the flow of goods, services, investment, technology, data, ideas, and workers. It began around 1870 and took off in the decades after World War II as countries started reducing restrictions on capital and trade flows in anticipation of benefits to growth and welfare.

Today we may be at another turning point in globalization’s history. So what is this powerful force that does so much to influence the world economy? How is it changing? And can it be improved?

Updated rules for international trade, coupled with stronger domestic policies, could make globalization more inclusive and sustainable.