Globalization is a phenomenon that in the modern world has an increasingly contradictory connotation. If in the middle of the last century most countries in the world were striving for greater openness of their economies, over the last decade there are trends of deglobalization, in order to preserve sovereignty or to protect national economic and political interests. The process of economic globalization is being strengthened through the role of international economic organizations, the conclusion of regional trade agreements, participation in economic blocs and the entry of influential big brands into new markets. The study aims to summarize the prerequisites for strengthening economic globalization, why deglobalization processes occur and what are the consequences for the world economy. The study will focus on economic globalization and will cover some more distinctive contemporary examples of economic deglobalization and their effects. Тhe analysis shows that protectionism in major economies could lead to partial market deglobalization mostly in the protected sectors and it is a prerequisite for economic shocks that lead to a deterioration in the basic indicators of the countries. Economic disintegration may lead to trade shifts and temporarily affect the country’s economy, but it does not deglobalize the national market. The challenges of the study is the simultaneous analysis of globalization and deglobalization, which adds significant complexity to the research. Moreover, the study explores many current economic issues, some of which are still evolving, such as the complex trade relations between the United States and China since the beginning of 2025.