Philippe Legrain is the author of Open World: The Truth About Globalisation and, most recently, Immigrants: Your Country Needs Them. He was previously a trade and economics writer for the Economist and special adviser to the director general of the
World Trade Organization. He is currently a visiting fellow at the European Institute of the London School of Economics.
Today, globalization is neither uniform nor universal. It will always be incomplete. Clearly, then, it is also reversible.
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New research from the McKinsey Global Institute suggests that the forces fueling growth in financial markets have changed.
Zhou Xiaochuan, China's central bank governor, calls for a new world currency, in a March 2009 speech.