We've reached peak globalization, says Capital Economics — "In fact, a period of de-globalisation is increasingly likely." The group's economists, in a note on Monday titled, "The world in 2050: where and why the consensus may be wrong," wrote that the fallout would hit emerging economies the hardest. "A rollback of globalisation would counteract any technology-driven pick-up in productivity growth over the next decade or so," says Neil Shearing, group chief economist. The takeaway: "The widespread assumption that China will overtake the US as the world's largest economy is likely to be proved wrong." Market ... (full story)