Abstract: Faced with the great changes in the balance of international power and the low resilience of world economy, developed countries are attempting to escape the current dilemma through a series of deglobalization measures. Exploring the essential connection between the cyclical swings of trade policy and the cyclical crises of capitalism is the basic premise for examining the essence of the deglobalization. To maintain their ruling, the capitalist class often tends to alleviate real contradictions through partial adjustment to production relations, and the deglobalization movement is essentially a partial adjustment made by the capital in the face of new development dilemmas. The solidification of interest distribution and the tendency of capital to seek value lowlands have become important factors troubling the further development of many countries, and also an important reason for people in various countries to voice their opposition to globalization. The deglobalization appears to be a means for the Western developed capitalist countries to maintain their hegemonic status, but in essence, it is an inevitable result of the inability of the capitalist system to resolved its malady on a global scale, and is a practical response and external manifestation of the basic contradictions of capitalism.

Key words: globalization, deglobalization, production relations, basic contradictions of capitalism, mode of production