As the criticism to globalisation mounts, so do the challenges to solid tenets of economic theory and practice connecting trade and productivity. How can we reconcile the decline in productivity in the last decade with still unabated barriers to globalisation? To what extent are increasing cross-border activities related to higher productivity? How would society's welfare be affected in case barriers to trade were imposed by nations in some form or another? How would a lower freedom to cross-border activities affect the spread of innovation globally and across firms? How will this affect Small and Medium Enterprises? Would such a "less globalised world" lead to smaller imbalances across economies and in terms of income inequality?