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ver since US presidential candidates railed against free trade, and anti-immigrant parties made sweeping gains in Europe, the question has been asked: are we witnessing the demise of globalisation? A trend that has dominated economics and trade for decades appears to be coming to an end. As a percentage of global GDP, world exports, which have been on a slow steady decline in the past two years, have peaked. Fines on multinationals have reached record levels. China’s breakneck industrialisation is probably over. Britain, a nation famous for building its empire on trade, will exit the world’s biggest free-trade area – Europe – by the end of this decade. Donald Trump, an opponent of free-trade deals all his public life. These signs point to the slow death of the form of globalization that the rich world has invented, refined and patrolled since the end of the second world war. For many, the period from 1980 to 2008 marks the high-water mark of such policies – a period that came to an end with global financial crisis. There is a worry that these years resemble the previously most integrated period of world history: the Gilded Age between 1870 and 1914. This ended bloodily with the first world war.
Link to article by Victor Davis Hanson:
https://amgreatness.com/2018/06/18/the-dream-and-the-nightmare-of-globalization/
