For politicians, globalisation has run into serious trouble, with questions raised about everything from its role in the world economic crisis to its alleged contribution to environmental degradation and rising income inequality.

But for business people, the forces driving globalisation are as strong as ever, with countries and companies daily taking decisions that strengthen the bonds of commercial and financial interdependence.

World trade has this year recovered to the record levels of the pre-crisis boom; investment flows from the developed world into emerging economies are back above $1,000bn a year – short of the 2007 record of $1,200bn but higher than any year before that, according to the International Institute of Finance, the bankers’ body.