Globalization Will Endure
Globalization is facing an assault from multiple directions but it is a trend that is unlikely to be reversed. It will certainly undergo changes due to adjustments in national policy in a number of countries as well as improvements in global governance and the development of regional integration. Nonetheless，it will remain with us over the long haul.
Since the early 1990s，the globalization process has been moving forward despite considerable opposition. Brexit and the "America First" policies of the Trump administration have presented major challenges to globalization and the Covid-19 pandemic，which has sent shock waves through the global supply chain，has amplified the voices of those calling for a change of course. But the odds are that globalization will see no fundamental reversal and a more rational，balanced and moderate globalization should be the norm in the future.
As a way to share resources，globalization is driven by economic complementarity and economic benefit. It requires convenient communication and interaction supported by technological development，ensuring that benefits outweigh costs. It allocates potential benefits based on the relative advantages of each participating country and reflects the willingness of the participants to make these interactions. Finally，it is shaped by international relations and politics.
Globalization is generally measured by indices that include international trade and investment，migration，communication，knowledge exchanges and dissemination，and changes in rules and institutions. Studies have shown that economic growth amid globalization comes from trade expansion，while the benefits of trade expansion depend not only on openness and income levels，but also on infrastructure. Countries with weak or unfair institutions or an unstable political environment will suffer economic shocks. Globalization might bring along shocks to domestic markets in the short term but will have a positive effect in the long run. Meanwhile social and institutional globalization will have a slightly negative impact on economic growth.
The Silk Road might be seen as an early form of globalization and the formation of global markets from the industrial revolution until World War One could be seen as the second round of globalization. The most recent round，which might be measured from the end of the Cold War，has witnessed the greatest development and most profound changes despite its relatively short timespan.
Cross-border trade and investment is the cornerstone of globalization. Strengthened economic ties have raised hopes for greater international cooperation and mutual benefit，but it has also created new sources of confrontation and conflict. Global value chains，intra-industry trade or intra-product trade have increased mutual dependence. Economic shocks can be felt across the globe. Some countries may suffer less of an impact but they cannot fully detach themselves from our interconnected world.
Development Trends
Regarding the issue of future development of globalization，we should be clear that special approaches adopted in special circumstances during a particular moment do not represent normalization. History tells us that the laws of economics shall be the basic principle of decision-making，and globalization is an inevitable process of internationalized productivity. In this sense，the personal will of any leader or government authorities will only impact the overall trend for a while. We often magnify immediate difficulties while ignoring historical trends. In the short term，concerns over public health and national security will outweigh economic concerns. In the long run，however，as long as there is no extreme confrontation，enhancing technological and economic strength in competition is the most reliable form of national security. Countries that close their doors do not enjoy sound development. So，what do we see in store for globalization in the future?
In the short term，globalization will lose ground. Problems that have accumulated over the past are gradually becoming more apparent. World economic growth is about to enter a downturn. Economies around the world are facing the pain of necessary transformation，while trade friction has mounted and brought more uncertainty. The global economy has been hit hard by the pandemic and security vulnerabilities have been clearly demonstrated. Some countries will try to adjust their supply chains. Leaders of certain countries have put personal emotions ahead of combating the pandemic. Some of the anti-globalization policies which were put in place created new challenges to the globalization process. Pressure against globalization is likely to intensify and global economic growth will suffer.
In the medium-term，globalization will undergo adjustments. After experiencing the pain of health and economic crises，there will be a period of reflection. The world will enter what might be called a re-globalization period which will respond to the problems seen in the rapid expansion of globalization. Such adjustments include both domestic policies and the reform of international organizations，such as the International Monetary Fund and the World Trade Organization. This will be needed to adapt to the new situation and demands of globalization. There will be new rules and a revised order of global governance. Regional integration，which has already been strengthened，will show further progress.