Ukraine war marks decline of globalization; we'll miss it when it's gone

The war in Ukraine doesn't necessarily mark sharp a break in history. But it underlines and will perhaps cement the decline of globalisation

At the dawn of the 20th century, Norman Angell famously (or infamously) predicted that the era of global commercial integration had made great power conflict so costly and destructive as to be unthinkable.
 

A few years later, the outbreak of World War I proved him right about the cost and destruction, but wrong about being unthinkable. The Great War ended the first era of globalization, and it took generations to rebuild the level of worldwide integration that pertained before the assassination of Franz Ferdinand.

Russia’s invasion of Ukraine is a much smaller conflict than World War I, and the trade