Globalization’s Political Fault Lines
The UK’s narrow vote to leave the EU is the proverbial canary in the coalmine, signaling a broad populist/nationalist backlash – at least in advanced economies – against globalization. But growing anti-establishment sentiment does not necessarily spell doom for a process that continues to yield net benefits for the global economy.
NEW YORK – The United Kingdom’s narrow vote to leave the European Union had specific British causes. And yet it is also the proverbial canary in the coalmine, signaling a broad populist/nationalist backlash – at least in advanced economies – against globalization, free trade, offshoring, labor migration, market-oriented policies, supranational authorities, and even technological change.