Economic Deglobalization, Regionalism, and Localism Processes Driven by Populism and Nationalism

Introduction

During the first half of the 20th century, Europe suffered a destruction induced by nationalism and militarism. Initially, globalization processes were reduced to European countries that had democratic political structures, but there was awareness of expanding the participation of other countries that were stable constitutional democracies. Since 1945, internationalism has been promoted with economic cooperation systems supported by the Bretton Woods agreements and the emerging global governance institutions such as the General Agreement on Tariffs and Trade, as well as the Marshall Plan and the United Nations.

Western economic nationalism provokes tensions that lead to a trade war and that leaves the global space to the east to take the leadership of the processes of globalization that promote a new global concept. However, this connectivity becomes the medium of contagion. The impact has been reflected in the resurrection of the nationalist entrepreneurial spirit that promotes the return of companies. The growing phenomenon of nationalism is manifested in different versions with identity religions, including eurocentrism, Brexit, America First, etc., which tend to undermine multilateralism and paralyze the World Trade Organization. The health crisis reaffirms the doctrine of America First as the way for companies and thus jobs to return to the United States. Globalization is widely criticized for its negative effects and loss of valuation; it has fueled nationalist and populist movements.

The processes of globalization have had devastating effects from the 2008-09 financial crisis on the jobs of workers in various sectors of the industry. The answer has been commercialism, nationalism, and populism. Since 2010, nationalisms and populisms have resurfaced with force, trends in proximity trade are expanding, sustainability emerges as a concern for achieving an ecological balance between the exploitation of resources, productive activities, and the effects on socio-ecosystems. For some years now, nationalist, and populist governments have been promoting the reproduction of productive activities.

This paper first analyzes the implications of nationalism and populism on the economic deglobalization processes as the result of the most recent economic, financial and health crisis, leading to more regional and local alternatives to give continuity to the economic globalization. Finally, a discussion on the implications of these issues is offered.