Global politics from the view of the political-economy trilemma
Author: Ito Hiroyuki, Visiting Fellow, RIETI
In recent years, political landscape has been changing drastically in many countries. In the United States, Donald Trump’s administration has pushed the “America-first” agendas and prioritized the nation’s interest above all else since coming to power in 2017. Regardless of existing trade or other agreements, the administration threatens trading partners with tariff increases or to walk away from negotiations if the conclusions are not favorable to the country. The administration does not shy away from trumpeting the “America First” or anti-globalization creed.
The idea of “our nation first” is not just limited to the U.S. The United Kingdom has been aiming to reclaim its national sovereignty by withdrawing from the European Union (EU). In many other countries, populist governments have arose, both on the left and the right, touting similar slogans and advocating for de-globalization to recover the economic benefits which they claim has been exploited by foreigners.
There has also been a backlash against the influx of refugees and immigrants. Resentment against such “internal globalization” has been on the rise in Europe, the U.S., and Latin America, supporting political forces willing to end social security and other benefits for the “free riders” and regain social benefits for their own domestic citizens.
These new political forces are different from those of the recent past
Read the article on the RIETI website or in Japanese.
Updated: 1 March 2021/Responsible Officer: Crawford Engagement/Page Contact: CAP Web Services Team
