The populist tide keeps rising
The more advanced economies had thought the forces of globalization — ever-opening trade and the free movement of people — were inexorable.
Instead, they have been overwhelmed by the forces of tribal identity — a feeling across the West of a loss of stature, self-dignity, and power over your own destiny.
- In country after country, look for the populist wave to go on for decades.
- And when they are played out, look for the West to be a very different world, although it's difficult to discern even the outlines of what may be coming.
The bottom line: People are angry at their establishment leaders, their institutions, and immigrants. Brazil, Latvia and Serbia are the latest to vote for nationalist leaders promising to kick out the scoundrels.
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