The possibility of De-globalisation?

I attended a seminar at Monash earlier today held by Lord Meghnad Desai, from the London School of Economics and a member of the UK House of Lords. He spoke about the possibility that one day the world might once again move to de-globalise, after articulating the history of economic movement from the late 1800s to the present day. Lord Desai offered us many scenarios based on his wealth of knowledge and understanding of world politics and international economic developments.

Much of his discussion and the ensuing questions from the floor centred on the economic climate of the past, to the present day and projections into the future. Although this economic focus was strong Lord Desai made a strong artgument that if not for economics and the will of economies to make a profit, self interest would be kept 'at home'! In other words, money talks and it does so globally!

Lord Desai asked the question: if de-globalisation was to occur, what factors would initiate this occurrence?

Perhaps on the ground movement by anti-globalisation groups might topple the global phenomena? Perhaps fundamentalist groups will destabilise governments and economies? What about the aging populations around the globe? How might that affect labour markets and capitalist forces? What might happen to the welfare state (particularly for UK and Australia with strong public service provision)?

This is an open question and is being asked at all levels. Here are some earlier thoughts from Lord Desai as interviewed on PBS (2000) ... What are your thoughts?