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Synopsis
It is widely believed that globalization has led to international economic linkages that are as strong as those within nations. Struck by research suggesting that this perception is wrong, John Helliwell spent three years assessing the evidence. The results are reported in this book, the latest in the Brookings Institution's Integrating National Economies series. The evidence offers a challenge to economists, policymakers, and citizens to explain whether the staying power of national economies is beneficial or harmful to general economic progress. Helliwell argues that industrial economies large and small are likely to experience diminishing returns from increases in globalization beyond the level that allows the ready exploitation of comparative advantages in trade and the relatively easy access to knowledge developed elsewhere.