by the Fargo PhantomFuture Prediction - Nationalism
Building on a discussion with my colleagues at work following my own post on 2008 buzzwords, I have decided to commit the cardinal sin of making a prediction! A long term prediction (over the next several years) nonetheless.
I believe that, all things being vaguely equal with the political direction internationally and particularly with the growing importance of environmental economics, we are going to see a resurgence of nationalism in economic policy.
Globalisation is going to peak in the next couple of years (if it already hasn't), there is considerable underlying anger by many people internationally all over the world against institutions like the World Bank, International Monetary Fund and parts of the United Nations. The nationalist far right is exceptionally powerful internationally, and coupled with increasing levels of moderate voter apathy coupled with a slowly rebuilding international left-wing, we're going to see politicians increasingly trying to use nationalist and patriotic discourse and policies to win votes.
This is a good thing economically. It's going to create greater emphasis around localisation of production, will bring back healthy protectionism and is going to force countries like China, Vietnam and India to engage in higher quality mass production (but individualised mass production).
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