文档介绍：1 World economy The gated globe The forward march of globalisation has paused since the financial crisis, giving way toa more conditional, interventionist and nationalist model. Greg Ip examines the consequences. Oct 12th 2013| From the print edition FIVE YEARS AGO e W. Bush gathered the leaders of the largest rich and developing countries in Washington for the first summit of the G20. In the face of the worst financial crisis since the Great Depression, the leaders promised not to repeat that era ’s descent into economic isolationism, proclaiming mitment to an open global economy and the rejection of protectionism. They eeded only in part. Although they did not retreat into the extreme protectionism of the 1930s, the world economy has certainly e less open. After two decades in which people, capital and goods were moving ever more freely across borders, walls have been going up, albeit ones with gates. Governments increasingly pick and choose whom they trade with, what sort of capital they e and how much freedom they allow for doing business abroad. Virtually all countries still embrace the principles of international trade and investment. They want to enjoy the benefits of globalisation, but as much as possible they now also want to insulate themselves from its downsides, be they volatile capital flows or surging imports. Globalisation has clearly paused. A simple measure of