Abstract
This chapter begins by laying out the consensus view of globalization as a product of trade liberalization and technological advances. It then proceeds to disaggregate globalization into its two corresponding components of globalization of consumption and globalization of production. Of these, only the former was a result of trade liberalization, both in the nineteenth and twentieth centuries, but the latter is unique to contemporary globalization and was a product of neo-protectionist measures adopted by the USA, and the Japanese response to such trade restrictive practices.
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Maswood, S.J. (2018). Globalization Revisited. In: Revisiting Globalization and the Rise of Global Production Networks. International Political Economy Series. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-60294-3_2
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