As populist parties have surged across advanced democracies so, it seems, has a 'globalisation backlash'. This column provides descriptive evidence on the backlash, discusses its theoretical underpinnings within standard trade models, and reviews the evidence on its drivers. It appears that globalisation is at stake partly due to reasons that are not strictly related to trade. The political sustainability of globalisation - and arguably of the international liberal order - will depend on how successful societies are at managing in a more inclusive way the distributional consequences of structural change.

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1 November 2021

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VoxEU

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https://voxeu.org/article/globalisation-backlash

This Blog is published under the centre's Trade programme.