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The late 1990s marked an era of heralding the birth of a new age characterized by a new era called globalization, which is about the freedom of international trade and the free movement of ideas, money, and people. However, the current geopolitical and geo-economic reality shows a completely different picture.

There are many indicators pointing to the decline or end of the era of globalization as it existed after the Cold War, sometimes referred to as "de-globalization" or the shift towards a fragmented multipolar world order.

The most prominent signs of the end of the era of globalization include:

1- The return of protectionism and the fragmentation of supply chains

Rising protectionist tendencies: Major countries are moving towards imposing restrictions on trade and foreign investment, such as trade wars and reciprocal tariffs between the United States and China.

Securing supply chains (Reshoring/Friend-shoring): Companies and governments are shifting from the goal of "optimizing supply chains" (to achieve the lowest cost) to the goal of "securing them" and reducing reliance on authoritarian regimes or geopolitically competing countries.

Decline in global trade: A slowdown in the growth of global trade and the ratio of global exports to global gross domestic product following the 2008 global financial crisis and the COVID-19 pandemic.

2- Geopolitical tensions and the use of economic interdependence as a weapon

Increased geopolitical competition: Especially between the United States, China, and Russia, leading to the division of the global economy into competing blocs and distant islands characterized by anxiety, suspicion, fear, and jealousy.

Weaponization of the economy: The use of energy, semiconductors, and raw materials and rare minerals as tools of geopolitical power and pressure on other countries (such as economic sanctions and excessive tariffs).

Declining importance of international institutions: The weakening role of organizations such as the International Monetary Fund, the World Bank, the World Health Organization, and the World Trade Organization amid declining global cooperation and a lack of trust between countries.

3- The rise of populism and inequality

Growing public discontent and a sense of injustice and absence of fairness: Increasing disappointment among large segments of the population due to stagnant wages and worsening wealth distribution inequality, where the gains of globalization have increasingly accumulated in favor of wild capital at the expense of workers' rights.

The rise of populist and economic nationalist movements: The emergence of political movements opposing globalization and calling for a focus on national interests first (such as the Brexit vote and the rise of the Trumpian MAGA movement).

All these indicators suggest that globalization in its previous known form is "dying," but there are quite a few experts who believe it may take on new forms as "parallel globalizations" or a fragmented global order instead of ending completely.