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The Conversation
The Conversation
Elsabe Loots, Professor of Economics and former Dean of the Faculty of Economic and Management Sciences, University of Pretoria

Is the world retracting from globalisation, setting it up for a fifth wave?

United States Pandemic United Nations
Fourth wave of globalisation saw China's increasing role as a global powerhouse. Getty Images

Over the past 25 years there has been lots of research and debate about the concept, the history and state of globalisation, its various dimensions and benefits.

The World Economic Forum has set out the case that the world has experienced four waves of globalisation. In a 2019 publication it summarised them as follows.

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