Globalization RIP?
Why is the goal of an open and increasingly integrated global economy coming under such fierce attack – and why now? If the ideal world of economists seems more distant than ever, blame the management of that process.
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Beyond the rancor and taunts heard at last month’s Republican National Convention, something even more ominous could be heard: the last rites for globalization. To adoring hoots, Donald Trump, the party’s presidential nominee, denounced US participation in international trade deals, and the foreign policy he sketched would pull the plug on the entire US-led liberal international order within which globalization has flourished. Should Trump enter the White House, globalization would not undergo a retreat; it would suffer a rout.