Today's date:

Spring 2000

Devolution and World Order

George Yeo is the trade minister of Singapore. NPQ asked him to look at the differences between the "first globalization" at the turn of the 20th century and the "second globalization" at the turn of the 21st century. His comments are adapted from a conversation with NPQ editor Nathan Gardels earlier this year in Davos, Switzerland.

The first great difference between globalization now and at the beginning of the last century is that the age of empire has passed. Except for Japan, Asia was not involved in the first globalized economy other than as European colonies.

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