IMF Managing Director Kristalina Georgieva’s message to the Davos meeting last week referred to the upside risks of “geoeconomic fragmentation” due to the war in Ukraine. Considering the ongoing rivalry between the United States and China and the alliance between the latter and Russia, the narratives about a West-East division in the global economy have become louder with an end and reversal of globalization.
After the 2008 global financial crisis, the belief that globalization an ...