What Comes After Globalization? | Foreign Affairs Interview Podcast

Foreign Affairs invites you to listen to its podcast, the Foreign Affairs Interview. This episode with Rana Foroohar was originally published on December 29, 2022. In recent years, many of the key assumptions and ideas that guided economic policy for decades have fallen apart. Globalization pushed jobs overseas—and when those jobs were not replaced, the dislocation people felt gave rise to new political movements in the United States and beyond. Then the COVID-19 pandemic hit, and it laid bare how vulnerable global supply chains had become. While it is clear that the old system of neoliberal economic thinking is no longer working, it is far from certain what new ideas will replace the old paradigms. Rana Foroohar is a business columnist and an associate editor at the Financial Times. She has covered trade and economic policy for years, and in an essay for Foreign Affairs—and a new book, titled Homecoming—she steps back to explain what went wrong and how the fallout is shaping global politics today. We discuss the failure of neoliberal policies, the importance of manufacturing, and the recent crypto collapse. SOURCES FOR THIS EPISODE “After Neoliberalism” by Rana Foroohar https://www.foreignaffairs.com/united-states/after-neoliberalism-all-economics-is-local-rana-foroohar “How the System Was Rigged” by Branko Milanovic https://www.foreignaffairs.com/reviews/review-essay/2022-06-21/how-the-system-was-rigged “Fighting Climate Change Through Trade” by Joseph E. Stiglitz, Todd N. Tucker, and Isabel Estevez https://www.foreignaffairs.com/united-states/fighting-climate-change-through-trade “Can Trade Work for Workers?” by Gordon H. Hanson https://www.foreignaffairs.com/articles/united-states/2021-04-20/can-trade-work-workers “Globalization’s Wrong Turn” by Dani Rodrik https://www.foreignaffairs.com/articles/united-states/2019-06-11/globalizations-wrong-turn “The End of Globalization?” by Adam S. Posen https://www.foreignaffairs.com/articles/world/2022-03-17/end-globalization “The New China Shock” by Margaret M. Pearson, Meg Rithmire, and Kellee S. Tsai https://www.foreignaffairs.com/china/new-china-shock