According to the news, multilateralism and globalization are in crisis. No less than U.S. Federal Reserve Chair Jerome Powell recently said, “it’s not hard to imagine a world where we break into these blocs again.” Former Treasury Secretary Lawrence Summers said there’s a growing feeling of a world that’s “forming blocs and choosing up teams.” Then again, R.E.M. sang, “It's the end of the world as we know it and I feel fine.” This is the 25th anniversary of the Asian Financial Crisis. Although it notably adversely impacted Southeast Asia plus Korea and Japan, critics charged that it revealed the flaw in global integration. Global trade in major agricultural commodities that had been grow...