In addition, the United Nations identified three mega-trends related to globalization: shifts in production and labor markets, rapid advances in technology, and climate change. While the current trend is not likely to end globalization, some argue that “globalization can be reversed, at least partially.” 2 The COVID-19 health crisis that brought economic collapse has prompted policymakers to take deliberate steps toward deglobalization. 1 The slowdown of world trade that resulted from the financial crisis was exacerbated by protectionist policies and nationalist movements in recent years. However, since the Great Recession of 2008-2010 a downward trend in economic integration has been observed. In terms of social globalization the world remains more connected than ever due to the widespread use of digital technologies.
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