Deconstructing Deglobalization: The Future of Trade is in Intermediate Services


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.

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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 [], 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: 22 Feb 2024 08:15
Date Deposited: 05 Oct 2023 08:25
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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 (ORCID Profile 0000-0003-4151-4887)



Version: Published Version

License: Creative Commons Attribution

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