19.02.2025

The globalists are preparing for the rematch

In his article on Project Syndicate, he writes that where not to look – the United States, Italy, Britain, not to mention China, Russia and India – all over the surge of national feelings was the main driving force behind political events.

Meanwhile, evidence of the alleged revolt of the “common people” against the elite not so much. Billionaires dominate American political life when President Donald trump; unelected professors led by “populist” by the government of Italy; around the world reduced taxes on the continuously rising incomes of financiers, specialists in technology and corporate managers. Meanwhile, ordinary workers are resigned to a reality in which high-quality housing, education and even health care for them is hopelessly out of reach.

The superiority of nationalism over egalitarianism, especially evident in Italy and Britain. These two countries were once famous for their phlegmatic attitude to national identity. Britain stands out for the absence of flags on government buildings, and the referendum on Brexia the people was so indifferent to his state, he did not even bother to seek the consent concerning the name of the country – the United Kingdom, Britain or England, Wales and Scotland.

The Italians were even less nationalistic. Since the founding of the European Union the Italians played in it the role of the most active supporters of federalism. Until recently, public opinion polls showed that voters trust the EU leadership in Brussels than their own government in Rome. The Italians passionately love their culture, history, food and football, but almost all their patriotism is associated with regions and cities, not the national government. They prefer to be ruled from Brussels, not from Rome.

Chief economist of Gavekal Dragonomics Anatoly Kaletsky

Far-right party “League”, the youngest member of the new coalition government of Italy, until this year was called “the Northern League”. One of its main slogans was: “Garibaldi did not unite Italy; he divided Africa.” The main political demand of the party was the abolition of the Italian state, is it required creating a new country called Padania with the aim to isolate the rich Northern regions of Italy from corruption and poverty, Rome and the South.

What explains this sudden preponderance of nationalism? In the new nationalism of Italy, Britain and even the United States is not so much positively Patriotic. This surge of national sentiment looks mostly xenophobic phenomenon, as it was determined by the Czech-American social scientist Karl Deutsch: “a Nation is a group of people bound together by a common erroneous ideas about their origins and a common dislike of the neighbors.” Hard times (low wages, inequality, regional poverty, post-crisis, the policy of reducing government spending) provoke the desire to find a scapegoat, and foreigners in this case, always look tempting target.

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There is nothing Patriotic in militancy trump directed against Mexican immigrants and the canadian import, or in the nationalist decisions of the new government of Italy or the famous statement, Theresa may, made after taking office, British Prime Minister: “If you consider yourself a citizen of the world, then you’re not a citizen. You don’t understand what it means to citizenship.”

And now for the good news for those of us who are still proud to be a “citizen of the world”. Xenophobic attempts to shift the blame for economic difficulties for foreigners doomed to failure.

Recall, for example, on actions taken after the crisis, trying to shift the people’s anger caused by the collapse of the economy market fundamentalists, the “greedy bankers”. These attempts ultimately failed, and partly, of course, because the bankers have huge resources for their protection, which the foreign is usually not. However, the criticism of the bankers did not calm the public dissatisfaction is mainly due to the fact that the attack on the financial industry does not help to raise wages, reduce inequality or to stop social degradation. Same thing will happen with the current campaign against foreign influence, whether it be immigration or foreign trade.

For example, Britain gradually becomes aware of the fact that European problems may have no relationship to the sound reasons of political discontent, which motivated many to vote for withdrawal from the EU. On the contrary, now many years or even decades of British politics will be diverted to the dominant theme of the talks about Breccia, while nationalist confrontation of Britain with the rest of Europe will provide politicians of all parties endless excuses for their failure to improve daily life.

In the upcoming months or years voters in the United States and Italy will learn the same lesson. The fight against foreign influence in the form of foreign trade or immigration will not help to raise the standard of living or to eliminate the causes of political discontent.

Italy has legitimate grievances with the European Union is hypocritical and unjust asylum policy and the salvation of perishing in the sea, self-destructive fiscal rules, fiscal policy is economically illiterate. But the new government took advantage of the rise of nationalism to attack the reforms which Europe does not have any relationship and is critical of Italy for economic success.

After the financial crisis a whole series of Italian governments have gradually laid the foundations for the pension, labor and banking reforms. These changes created the conditions for the economic recovery that began last year after a decade of recession. But they have proved politically unpopular, and now they are subjected to sharp criticism as a symbol of the oppression of a country by a foreign elite. If the new government will refuse all the three projects of reform, then the Italians will have to leave hope for the restoration of economic growth, probably for another decade.

USA will also find out that the attack on foreign interests is not a panacea and can only compound the difficulties. Trump believes that his measures against imports from China, Germany and Canada will hurt U.S. trading partners and will help to create jobs in the United States. It could be true when the US economy suffered from deflation and weak growth. But in a world with strong demand and rising inflation, the German and Chinese exporters find new markets for their products, while manufacturers in the United States will try to find new foreign suppliers. The BMW and Huawei will be fine, while the duty will result in a tax on American consumers (from higher prices), as well as for American workers, businesses and homeowners (due to the increase in interest rates).

The opposite of populist nationalism is not global elitism, and economic realism. And in the end will win reality.

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