Deconstructing Deglobalization: The Future of Trade is in Intermediate Services

Baldwin, Richard, Freeman, Rebecca and Theodorakopoulos, Angelos (2024). Deconstructing Deglobalization: The Future of Trade is in Intermediate Services. Asian Economic Policy Review, 19 (1), pp. 18-37.

Abstract

This article contests the idea that the world has entered a post-globalization era. It argues that rapid globalization has evolved rather than ended. Even though the global goods trade-to-GDP ratio reached its zenith 15 years ago, the rapid rise of services trade has persisted and now accounts for one-fifth of international commerce. The paper makes a statistical and logical case that the future of trade lies in services trade—especially trade in intermediate services.

Publication DOI:	https://doi.org/10.1111/aepr.12440
Divisions:	College of Business and Social Sciences > Aston Business School > Economics, Finance & Entrepreneurship
Additional Information:	Copyright © 2023 The Authors. Asian Economic Policy Review published by John Wiley & Sons Australia, Ltd on behalf of Japan Center for Economic Research. This is an open access article published under the terms of the Creative Commons Attribution License [https://creativecommons.org/licenses/by/4.0/], which permits use, distribution and reproduction in any medium, provided the original work is properly cited.
Uncontrolled Keywords:	F10,F13,F15,F60,deglobalization,intermediate services,intermediate trade,service-led development,services trade,Economics, Econometrics and Finance(all),Political Science and International Relations,Management, Monitoring, Policy and Law
Publication ISSN:	1832-8105
Last Modified:	09 May 2024 07:23
Date Deposited:	05 Oct 2023 08:25
Full Text Link:
Related URLs:	https://onlinel ... 1111/aepr.12440 (Publisher URL) http://www.scop ... tnerID=8YFLogxK (Scopus URL)
PURE Output Type:	Review article
Published Date:	2024-01
Published Online Date:	2023-10-10
Accepted Date:	2023-08-09
Authors:	Baldwin, Richard Freeman, Rebecca Theodorakopoulos, Angelos ( 0000-0003-4151-4887)