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The report reveals that globalization reached a record high in 2022 and remained close to that level in 2023 - despite a series of global shocks over the past decade, including the Covid-19 pandemic, wars in Ukraine and Gaza, the U.S. - China trade conflict, and the UK's withdrawal from the EU. The evidence strongly rebuts the notion that the growth of global flows has gone into reverse. Trade growth played a crucial role in boosting global connectedness. The share of global output traded internationally was back to a record high level in 2022. After a slowdown in 2023, trade growth is forecast to accelerate in 2024. The globalization of information flows has been especially strong over the past two decades, even though the latest data show a stall in their growth, partly due to less research collaboration between the U.S. and China. Corporate globalization is rising, with companies expanding their international presence and earning more sales abroad.