This article contests the idea that the world has entered a post-globalization era. It argues that rapid globalization has evolved rather than ended. Even though the global goods trade-to-GDP ratio reached its zenith 15 years ago, the rapid rise of services trade has persisted and now accounts for one-fifth of international commerce. The paper makes a statistical and logical case that the future of trade lies in services trade-especially trade in intermediate services.

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10 October 2023

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Asian Economic Policy Review 19(1) , pp.18-37, 2023

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DOI: 10.1111/aepr.12440

https://onlinelibrary.wiley.com/doi/10.1111/aepr.12440

This Journal article is published under the centre's Trade programme.