The dream of economists after 1945 was a system of multilateral trade through the International Trade Organization (ITO) to reverse the protectionism of the Great Depression. Since then, a system of powerful preferential trade agreements has spread, and this system now attracts great major criticism from economists. There are significant restrictions on globalization and many issues surrounding it which must be addressed in the near future. Global poverty and inequality is an area of much debate, as is the relation of globalization to the choice of political regime in individual countries. International economic laws and codes and their consequences have also come under examination in recent years. This book analyzes the issues surrounding globalization and also explores the prospects of the global economy in the near future, as well as the potential vulnerabilities, stemming from US economic instability and various geopolitical concerns. With in-depth analysis of globalization, comprehensive exploration of the role of the state in influencing the direction of the global economy, and detailed discussion of issues which will determine how globalization evolves over the next few decades, this book is an essential companion for those seeking a greater understanding of globalization, the state, and the issues facing the global economy.