from The Daily Bell:
The tide of globalisation is turning Trade liberalisation has stalled and one can see a steady rise in protectionist measures … Has the tide of globalisation turned? This is a vitally important question. The answer is closely connected to the state of the world economy and the west’s politics. – Financial Times
This article present a lot of positives surrounding “globalism,” which is a fundamental elite meme, almost as important as central banking itself.
And who is the author, Martin Wolf? According to his FT bio, he is chief economics commentator at the Times, London. He was awarded the CBE (Commander of the British Empire) in 2000 “for services to financial journalism”.
Wolf is very obviously a globalist. Nonetheless, one might be impressed with Wolf’s sincerity since the article itself is postulating that globalism is somehow “losing.”
Globalisation has reached a plateau and, in some areas, is in reverse. An analysis from the Peterson Institute for International Economics argues that ratios of world trade to output have been flat since 2008, making this the longest period of such stagnation since the second world war.
The impetus towards further economic integration has stalled … Globalisation is no longer driving world growth. If this process is indeed coming to an end, or even going into reverse, it would not be the first time since the industrial revolution, in the early 19th century.
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