Globalization in Retreat.

The author discusses the lasting effects of the global economic crisis of 2008 and 2009. Declines in global trade, capital flows, and immigration are examined. Background information is provided regarding the housing and credit market collapses which have affected the U.S., Europe, and Japan. The effect of the worldwide recession on developing countries is explored with particular focus given to the declining levels of investment, financing, and commodity prices. The article notes that China has not experienced the same level of economic instability as the rest of the world due to its capitalist-communist economic model. Geopolitical changes connected with the economic crisis are also discussed.