The World Today Looks Ominously Like It Did Before World War I

Washington Post: “To some, it looks ominously like another moment in history — the period leading up to World War I, which marked the end of a multi-decade expansion in global ties that many call the first era of globalization.”

“In a recent report, Josh Feinman, the chief global economist for Deutsche Asset Management, says that the world could see a substantial backsliding to globalization in decades to come. After all, he writes, we have seen it happen before, in the years of chaos and isolationism that encompassed the First and Second World Wars and the Great Depression.”

“As before World War I, the second great wave of globalization led to a surge in immigration and increasing inequality in some countries, which likely helped to trigger the current backlash.”

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