The Age of Globalization (2000–2020): The Dizzying Heights

The Age of Globalization marked the second “growth spurt” of the post-WWII era, which saw unprecedented economic achievements that encompassed ever larger swathes of the global economy. This was due to significant advances in technology, deepening global economic and financial integration, and consistent implementation of sounder economic policies over time. Furthermore, the EMEs were able to weather large-scale external shocks relatively well, overcoming the significant challenges posed by the Global Financial Crisis and the COVID-19 pandemic. In this regard, the Age of Globalization was “exceptional” in its convergence speed and its durability in the face of adversity.