International Economics Commons^™

Could Deglobalization Kill Transnational Cooperation? A Brief Historical Lesson, Virág Rab

Journal of Global Awareness

The study examines a historical period referred to in the literature as deglobalization. After the First World War, economic nationalism gained ground in some countries, mainly for political reasons, characterized by protectionist economic policies and the pursuit of autarchy/self-sufficiency. There were no international regulations or well-functioning international institutions that would have facilitated economic cooperation. How did those who worked hard to reconstruct the European economy react to this situation? This study presents this through the process of developing an informal network of bankers, and it indirectly highlights some important links between informal networks, globalization, and deglobalization.