Is globalization dead? What are the reasons?

I am a Chinese born in the Z era. During most of my childhood years, the economy of my hometown improved with globalization. But with the recent impacts of the China-US trade war, the COVID-19 pandemic, and the looming threat of various wars, China's internal economy has started to deteriorate significantly. Young people who have just graduated from university are struggling to find jobs, and what's even more difficult to accept is that we, the younger generation, are having trouble finding our own place. Should we still believe in globalization? Can the incessant political struggles between these major nations come to a halt? Is the world of the new generation heading back to the Cold War era?