Rethinking Globalization and Fragmentation:

From Regional to Global Linkages


Globalization has helped deliver remarkable development outcomes for Asia and the Pacific. While it has helped to expand markets, improve resource allocation and enhance productivity, globalization may have also amplified inequalities and accelerated climate change. While digitalization and environmental sustainability are now opening channels for stronger cooperation, geopolitical tensions and evidence of economic fragmentation warrant a rethinking of globalization and the role of regional integration in it.

This event gathered a group of academics, policymakers, and international organizations with three main objectives: (i) to assess current trends in global and regional integration through the latest measurement frameworks, (ii) to tackle emerging narratives of geoeconomic fragmentation and discuss economic implications for Asia and the Pacific; and (iii) to highlight policies on strengthening global and regional integration as a response to an increasingly polarized global economy. Policymakers and experts were invited to share their insights through presentation of research papers and in-depth panel discussions.

Event details:

Date/Venue:

08:30 (GMT+8, Manila)
02 July 2024

ADB Headquarters, Manila, Philippines

Downloads:

Agenda (PDF)

Contacts:

  • Rolando Avendano
    Economist, Economic Research and Development Impact Department, Asian Development Bank
    Email: ravendano@adb.org
  • Carol Onchangco
    Operations Coordinator, Economic Research and Development Impact Department, Asian Development Bank
    Email: congchangco@adb.org

Agenda:

02 July 2024 (Tuesday)toggle

Opening Session

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Session 1: Measuring Globalization: Frameworks and Emerging Trends

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Session 2: Navigating Narratives and Issues on Globalization and Fragmentation

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Session 3: Exploring the Nexus of Regional and Global Integration: A Perspective from Policymakers


Video recording:

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Opening Session

ADB Chief Economist Albert Park opens the forum, underscoring Asia's progress in global economic integration and risks of increasing fragmentation. IMF Chief of Macroeconomic Development Division Petia Topalova discusses about the changing global linkages and their implications to Asia and the Pacific.

Session 1: Measuring Globalization: Frameworks and Emerging Trends

This session will feature the latest measurement models on global integration, highlighting the existent methodologies and approaches. Findings on emerging trends in how economies are globally and regionally interlinked will also be highlighted. This session seeks to describe recent globalization trends and factors explaining how it has deepened and evolved in recent years.

Session 2: Navigating Narratives and Issues
on Globalization and Fragmentation

While global integration remains a key driver, recent trends indicate a new period of economic fragmentation and deglobalization. Growing geopolitical tensions, technology shocks and other factors have caused supply chain disruptions, relocation of investment and a rise in trade restrictions. This session will explore recent deglobalization trends and discuss the risks and economic implications of global fragmentation through the lens of trade, global chains and financial stability.

Session 3: Exploring the Nexus of Regional and Global Integration:
A Perspective from Policymakers

The session aims to dive deep into the complex relationship between global and regional integration in light of increasing economic fragmentation. It will highlight policies in response to globalization and regionalization trends. Speakers are encouraged to share their perspectives on how regional and global integration policies compete or complement and what policy responses and strategies can help economies navigate the uncertainties of the current global environment.

Closing Session

The ADB team presents the next steps on its tools and research related to regional and global integration. ADB Regional Cooperation and Integration Division Director Jong Woo Kang closes the forum with key takeaways from the presentations and panel discussions during the forum.

Event photos:

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