The future of globalization

The future of globalization has been debated ever since the term was introduced. The recent shocks of the Great Recession and the pandemic seem to herald a new epoch in the trajectory of globalization. Moving away from the hyperglobalization of the 1990s and 2000s, the world appears to be transitioning into a phase of deglobalization. The concept of globalization is intricate and multifaceted. This paper delves into four aspects of globalization: economic, political, social, and cultural. Poverty alleviation should stand as the paramount objective of globalization, closely intertwined with economic growth and democracy. The latter is essential for implementing policies that channel the benefits of economic growth to those striving to break free from poverty. In conclusion, it's asserted that globalization, when coupled with democracy, can continue to foster poverty reduction. The end of this process is the total eradication of poverty. Keywords: globalization, hyperglobalization, poverty, growth, democracy, openness, international trade, exports, education, illiteracy, life expectancy