The State of Globalization in 2023: Data disproves the notion that the world has become more regionalized in recent years.

The article focuses on the state of globalization in 2023, analyzing whether recent global crises and geopolitical tensions have reversed globalization, led to economic fragmentation, or caused a shift toward regionalization. Data from the DHL Global Connectedness Index show that despite temporary disruptions from the Covid-19 pandemic and U.S.-China decoupling, international flows of trade, capital, information, and people remain resilient and near all-time highs, with no broad fracturing of the world economy into rival blocs. While geopolitical tensions have complicated the public policy environment, most multinational firms are advised to make focused strategic adjustments rather than fundamentally restructure their global operations, as globalization continues to offer growth, innovation, and risk diversification benefits. The article also notes that nearshoring and friendshoring are longstanding aspects of globalization, and the current emphasis in policy circles is on "de-risking" rather than complete decoupling.