A+| A| A-
What Next for Globalisation?
Globalisation has lost legitimacy in its homelands. The emerging economies of Asia need to carry extra weight in favour of global prosperity and away from xenophobia and autarky.
Views are personal and do not reflect those of NITI Aayog.
The Ides of 2016
When the economic history of our times is eventually written, the year 2016 will occupy a prominent place. It will be remembered as the year in which the two countries that had laid the foundation for globalisation, free markets and prosperity in the early 1980s switched course and chose to hit the stop button (a long pause if you are an optimist). It was the leadership of Ronald Reagan in the United States (US) and Margaret Thatcher in the United Kingdom (UK) which unleashed the forces of the free market within their countries and the forces of integration and openness elsewhere. It is with considerable irony that historians will note the fact that in both countries the long pause on globalisation was hit by leaders of the political parties of Reagan and Thatcher. It was the supposedly right wing, free market Republicans in the US led by Donald Trump and a faction of the Brexit conservatives in the UK led by Boris Johnson who led the charge for closing the doors. What was started by politicians on the right of the political spectrum has been stopped by the politicians on the same side, surely a rare occurrence in the history of politics.
Dear Reader,
Or
To gain instant access to this article (download).
(Readers in India)
(Readers outside India)
