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Illustration: Lazaro Gamio/Axios

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. 

Sign up for my daily Axios Future newsletter here.

Go deeper

Dion Rabouin, author of Markets
37 mins ago - Economy & Business

Biden's inflation danger

Illustration: Sarah Grillo/Axios

President-elect Joe Biden's $1.9 trillion stimulus proposal has economists and bullish market analysts revising their U.S. growth expectations higher, predicting a reflation of the economy in 2021 and possibly more booming returns for risk assets.

Yes, but: Others are warning that what's expected to be reflation could actually show up as inflation, a much less welcome phenomenon.

Ina Fried, author of Login
2 hours ago - Technology

CES was largely irrelevant this year

Illustration: Sarah Grillo/Axios

Forced online by the pandemic and overshadowed by the attack on the Capitol, the 2021 edition of CES was mostly an afterthought as media's attention focused elsewhere.

Why it matters: The consumer electronics trade show is the cornerstone event for the Consumer Technology Association and Las Vegas has been the traditional early-January gathering place for the tech industry.

The FBI is tracing a digital trail to Capitol rioters

Illustration: Sarah Grillo

Capitol rioters, eager to share proof of their efforts with other extremists online, have so far left a digital footprint of at least 140,000 images that is making it easier for federal law enforcement officials to capture and arrest them.

The big picture: Law enforcement's use of digital tracing isn't new, and has long been at the center of fierce battles over privacy and civil liberties. The Capitol siege is opening a fresh front in that debate.