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Future of Globalization
Future of globalization

Vietnamese workers in Vietnam's Mekong Delta region process shrimp bound for American dinner plates. International trade has tumbled dramatically since the current recession began, declining by margins not seen since the Great Depression. Some economists suggest international trade is entering an era of “deglobalization” — a sustained retreat from global trade and economic integration fed by increasingly nationalistic policies and rising protectionism.

In a two-bedroom Mumbai apartment in 1982, young entrepreneurs Ashank Desai and two partners launched Mastek, one of India's first software companies. Today, its nearly 4,000 employees handle information-technology operations for firms around the world, many in the United States and the United Kingdom.

If Mastek is a symbol of the outsourcing phenomenon sweeping the global workplace, Caterpillar embodies the ...

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