Terrorism poses a challenge to the remarkable record of globalization. A global society reflects an ever more open economic environment in which participants are free to engage in commerce and finance wherever in the world the possibilities of increased value added arise. It fosters ever greater cross-border contact and further exploitation of the values of specialization but on a global scale.
Fear of terrorist acts, however, has the potential to induce disengagement from activities, both domestic and cross border. If we allow terrorism to undermine our freedom of action, we could reverse at least part of the palpable gains achieved by postwar globalization. It is incumbent upon us not to allow that to happen.