You're listening to TED Talks Daily. I'm Elise Hu. Today's talk is about what's next after the mismanagement of a once promising idea, globalization.

Sure, it helped bring millions out of poverty and created better health outcomes around the world.

But the downsides are being exploited by nationalists and autocrats in many countries.

In his TED 2020 talk, author and economist Mike O'Sullivan marks this consequential moment

where a collective globalized world is ending and lays out the new world order or disorder ahead.

We are at the end of globalization. We've taken globalization for granted. And as it drifts into

history, we're going to miss it. The second wave of globalization begun in the early 90s,

and it delivered a great deal. Billions of people

rose out of poverty. More impressively, wealth per adult in countries like Vietnam and Bangladesh

increased by over six times in the last 20 years. The number of democracies rose in countries

as diverse as Chile, Malaysia, Estonia, held free and fair

elections. The role of women improved in many parts of the world. If you look at wage

equality in countries like Spain or access to education in countries like Saudi Arabia.

Economically, supply chains spread like webs around the world,

with car parts criss-crossing borders

before the final product came into place.

And globalization has also changed the way we live now.

It's changed our diets.

It's changed how we communicate,

how we consume news and entertainment, how we travel and how we work.

But now, globalization is on its deathbed.

It's run into the limitations of its own success.

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