Globalisation and the International Economy

Globalisation is no longer a straightforward concept. In light of war, trade conflicts, and geopolitical realignments, this book aims at providing analytical tools to understand and navigate (de-)globalisation. Bridging economic models with real-world complexity, it offers a nuanced introduction to the global economy at a time of uncertainty and transition.

Combining theory and practice, the book presents a clear economic perspective without being overly technical. The first part outlines key concepts such as globalisation throughout time, trade theory and barriers, financial globalisation, the reasons for fragmentation in recent years and in a more political perspective how Russia’s 2022 invasion of Ukraine plays in. The second part features expert contributions on the EU’s crossroads, Denmark’s economic resilience and monetary policy, Germany’s growth challenges, China’s strategic shift, the changing character of Foreign Direct Investment and Africa’s emerging role—alongside an analysis of generative AI’s macroeconomic impact.

Through a blend of analysis and real-life examples, the book equips readers to understand and reflect on the present and future of globalisation. It is aimed at students of economics, professionals, and anyone interested in how global forces shape economies, societies, and international relations—and how we might navigate a fragmented global order.

Michael Hedegaard is Associate Professor at the Technical University of Denmark. David M. Rowe is Professor of Political Science at Kenyon College. Holger Sandte works as Principal Analyst at the Export and Investment Fund of Denmark.