As populist parties have surged across advanced democracies so, it seems, has a ‘globalisation backlash’. This column provides descriptive evidence on the backlash, discusses its theoretical underpinnings within standard trade models, and reviews the evidence on its drivers. It appears that globalisation is at stake partly due to reasons that are not strictly related to trade. The political sustainability of globalisation – and arguably of the international liberal order – will depend on how successful societies are at managing in a more inclusive way the distributional consequences of structural change....
Historical dialectic at work.
The globalisation backlash
Italo Colantone, Gianmarco Ottaviano, Piero Stanig
https://voxeu.org/article/globalisation-backlash
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