There have been two different currents as a reaction to the recent affairs that negatively influenced the international political economy, such as the COVID-19 crisis or the disruption of gas supply change caused by the Russia-Ukraine war.
"Deglobalization" advocates for a less connected world with more substantial authority given to nation-states, segmentation of the global value chain, and enhancing countries' ability to self-produce essential goods and services such as health care, energy, etc.
"Reglobalization," on the other hand, advocates for reinforcing a neoliberal economic order through further integration of countries into global trade relations with tighter regulation and authorizing international organizations and global conglomerates as main actors for initiatives pertaining to climate change, health crisis, etc.