Globalization is in Retreat

The Economic Cycle Research Institute (ECRI) says that globalization, the global integration of trade and investment, has been reversing since the 2008 Global Financial Crisis. ECRI measures globalization as the difference between the growth rate of world trade and the increase in the world production of goods and services (GDP). Prior to 2008 world trade consistently expanded faster than world economic growth. Since 2008 the opposite has been true, economic growth has expanded more than trade. This may bode well for job creation and wages within the borders of the U.S.