Gary Hufbauer: 2015 — A Decisive Year for Globalization

Globalization has contributed enormously to world prosperity. The rationalization of production through global supply chains and the application of new technology worldwide — not just where it was invented — made the 60 years following the Second World War the most prosperous era in human history.
 

But today globalization faces strong political headwinds. The very term triggers protest from the political left — it has come to be blamed for the prosperity of the top 1 percent, stagnant wages for everyone else and the excesses of Wall Street.