Globalization, Glocalization, Regionalization, Localization with Global approach, Hyper Localization and De-globalization are the buzz word for the present Global Economics . The world is going through metamorphic challenges due to international conflicting interest and national sovereignty changes in geo economic, military, political, diplomatic spectrum and demographic variations. Changes which not only transforming the world dynamics but have also affected the fate of countries relying on Globalization or Localization approach.
Thomas Friedman once stated “The world is flat”. Localization, Colonization, Regionalization, or Globalisation are the international phenomena which cannot be stopped at will or desisted. Globalisation has gone through different flavours. Globalization started as a compulsion of west ; De-Globalization is also being taken as compulsion of west, There are different phases of Globalization , The advent of new world order and emergence of American dominance after the end of world war, America emerged as Super power, created blocks, cartels to fulfill American Interest.
The world economy is affected by the process of De- Globalisation, which exhibited in three phases. The first phase initiated with Trade Protectionism. The second with increased global convergence and third associated again with de-convergence or trade dominance through Protecting measures directing towards national sovereignty.
GHOSH, M. K. (2023). IS THE WORLD HEADING TOWARDS DE-GLOBALIZATION DUE TO UNCERTAIN CONDITIONS. Journal of Emerging Technologies and Business Management, 10(2). https://jetbm.imtnagpur.ac.in/journal/vol10/iss2/4
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