The growth of trade compared with the growth of GDP in this decade has been half of that in the late 1990s and early 2000s, while global capital flows as a percentage of GDP have dropped precipitously since the 2008–09 financial crisis and have not returned to pre-crisis levels.
At the same time, there is evidence that other facets of globalization continue to advance, rapidly and at scale. Cross-border data flows are increasing at rates approaching 50 times those of last decade. Almost a billion social-networking users have at least one foreign connection, while 2.5 billion people have email accounts, and 200 billion emails are exchanged every day. About 250 million people are currently living outside of their home country, and more than 350 million people are cross-border e-commerce shoppers—expanding opportunities for small and medium-sized enterprises to become “micro-multinationals.”