Anti-Globalization goes Global
Exactly a year ago, I defended that the world’s shape was not as bad as it seemed – considering that just a hundred years ago we were killing each other in WWI – and I insisted in calling these interesting, rather than challenging, times. Twelve months later, I am almost forced to change my opinion and to agree that the world is a mess.
These twelve months have been very eventful, to say the least. On May 12, Brazilians impeached Dilma as their President. On June 23, British people voted to leave the EU. On June 26, Spaniards voted to stay with the same right-wing, corruption-investigated party PP after six months of no Government. On November 8, my beloved Americans chose Trump as their new President. On November 25, Cubans cried the death of Fidel. And finally, just days ago, Hong Kongers saw how Beijing chose their new Leader and South Africans saw his obstinate ruler sacking one of his few popular ministers. WOW.
But hold on to your seats, show is not over yet. France’s (April 23) and Germany’s (September 24) general elections are overheated and could determine the fate of the European Union. Le Pen herself stated this week that the EU will die. If this was not enough nationalism, Catalonia keeps pushing for its own independence referendum, to happen no later than September 17.
In the meantime, the Syrian civil war continues to kill (est. 0.5 million) and displace (est. 5 million) people on its sixth year, and ISIS continues to spread terror around the Arab and non-Arab world alike – having killed over 2,000 people in the last 12 months only. And Trump’s travel bans, I am afraid, are unlikely to change this.
I have lived in 8 different countries (and visited 75), I spend my days thinking about cross-border flows and I learn something new every day by surrounding myself with people from very different origins and cultures – so I cannot help but consider myself as a convinced globalist. And you are right, Marine, “je vous regarde tous avec crainte”.
"I cannot help but consider myself as a convinced globalist. And you are right, Marine, “je vous regarde tous avec crainte”."
How did this happen? The aftermath of the Global Financial Crisis has been longer and tougher than expected, with sluggish economic growth in both developed and emerging markets, and with global unemployment and youth unemployment on the rise again. Add these to the war on terror in the US and to the refugee crisis in the EU, and you’ve got a protectionist spree with people believing they’d be better off closing their borders.
It is certainly interesting to watch all these developments from New York, a metropolis founded by immigrants and one of the most cosmopolitan cities in the world (which drove an 80% support to the Democrats last November). News from Wall Street are surprisingly positive so far, and the three major indices are between 13% and 17% up since elections – as well as the USD, that keeps strengthening against most currencies.
"It is certainly interesting to watch all these developments from New York, a metropolis founded by immigrants and one of the most cosmopolitan cities in the world."
As we enter April Fools’ and the beginning of Q2 with it, a lot can still happen in 2017. Stay tuned.
This article forms part of the personal blog Global Islander. Opinions expressed here are of the author and are not intended to malign or defame any individual or organization. The writer bears full and sole responsibility for any views, errors and omissions, which he would be grateful to be informed about.