Marc Levinson is an independent economist and historian. He is the author of The Box (2006) and several other books, a former finance and economics editor of The Economist, a former senior fellow of the Council on Foreign Relations, and a former sell-side analyst. His work has focused on trade, finance, globalization, and business.

In his new book, Outside the Box, he argues that a fourth phase of globalization is underway, which will no longer be defined by cost optimization through shipping physical goods. Instead, the fourth globalization is about the spreading of ideas and services trade. In a conversation with Philipp Carlsson-Szlezak, BCG Chief Economist, he discusses the likely impact of this shift on inequality, inflation, the trade-off between efficiency and resilience, and the U.S.-China decoupling.

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About the BCG Henderson Institute

The BCG Henderson Institute is the Boston Consulting Group’s think tank, dedicated to exploring and developing valuable new insights from business, technology, economics, and science by embracing the powerful technology of ideas. The Institute engages leaders in provocative discussion and experimentation to expand the boundaries of business theory and practice and to translate innovative ideas from within and beyond business. For more ideas and inspiration, sign up to receive BHI INSIGHTS, our monthly newsletter, and follow us on LinkedIn and Twitter.