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For the last 30 years, the world economy has seen unprecedented growth, as we have been reaping the benefits of globalisation. But where to from here?

Over the last 5 years we have seen a gradual slowing down, as well as a realization that there are also costs, responsibilities and consequences. Globalization is not an unstoppable force, and it is not a buffet where you can choose the benefits and ignore the costs. These costs are associated with imbalances within and between countries, and growing internal inequalities. Nation states and societies have reacted to these developments by seeking (unsuccessfully) to ‘reverse’ these negative effects, by creating barriers to the movement of people, goods and services. Countries as diverse as China, Britain, India, Japan and the US, are looking inwards, and embracing nationalistic policies.

Prof. Rajneesh Narula looks at the unsustainability of globalisation in the face of economic nationalism.

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