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 The unsustainability of globalization in the face of economic nationalism

Globalization’s essence rests on three legs: Movement of goods and services, Movement of capital and movement of people. The current economic system and the distribution of economic activity is built around supply chains that efficiently exploit labour and capital differences across the world. Yet, economic nationalism threatens these three ‘freedoms’.  Blocking these three freedoms has severe consequences for the economic welfare of countries at all levels of development.