Globalization is here to stay for sure. Not only is it here to stay, but we need it to stay if want to continue living the way we are right now. The lifestyle we are accustomed to requires globalization. If it were to disappear we would have to change out lives in numerous ways.
I do not think that the world gets to participate in globalization equally. The countries that have more money have many more advantages than those who are poor.
Globalization as we know it will survive, unless as Pohnpei suggests the world runs out of means for transporting globally. My hypothesis, however, is if that particular situation happens, there will be governments that invent other means of transportation. As for the whole world participating equally, it seems to me that the world operates like individual societies--the rich have more opportunities and means to participate than the poor.
Globalization is going to survive unless we run out of oil and find no other way to power the ships that bring stuff from place to place. I do not think it is receding in any way. Instead, it's just growing and is only going to grow more as more Third World countries get to the point where they can support industry.
Just as one example, they're widening the Panama Canal to take bigger ships so that even more goods can be moved from Atlantic to Pacific or vice versa.
I just don't see how this genie is going back in the bottle.