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

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

DOI: 10.4018/978-1-6684-5976-8.ch017
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The aim of this chapter is to analyze the nationalism and populism as the driving forces of economic deglobalization processes and regionalism. The analysis departs from the assumption that the economic deglobalization processes responds to more complex dynamic forces created by the economic, financial, and the most recent health crisis that blocks the continuity of the economic globalization. Moreover, at the center of the analysis is the conceptualization that both globalization and deglobalization are two faces of the same coin, but with opposite driving forces. Nationalism and populism are the driving forces of deglobalization leading to find regional and more local solutions to economic growth and social and environmental problems.
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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.

Key Terms in this Chapter

Racism: Ideology that defends the superiority of one race over the others and the need to keep it isolated or separated from the rest within a community or a country.

Populism: Tendency or fondness for the popular in all areas of life, especially in art.

Nationalism: Political doctrine and movement that claim the right of a nationality to reaffirm its own personality through political self-determination.

Regionalism: Doctrine or political tendency that defends that the government of a State must consider the way of being and the aspirations of each region.

Localism: Esteem or admiration for the culture and traditions of the locality or region.

Economic Deglobalization: Decline in international flows of goods, services, capital, people.

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