Is realism trumping populism? Brexit progression proves so
Populist economic policy appears to be in retreat everywhere, with no clear alternative.
WITH economic conditions returning more or less to normal around the world after a decade of financial crises, nationalist populism is now seen as the biggest threat to global recovery. That was certainly true of the finance ministers who gathered in Washington, DC, last month for the IMF's annual spring meeting. But is it possible that this consensus has emerged just as the populist wave has crested? Rather than populist politics undermining economic recovery, could economic recovery be undermining populist politics?
Looking around the world, populist economic policy appears to be in retreat, even though no clear alternative is visible. In the United States, President Donald Trump seems to be curbing his protectionist instincts, and economic relations with China are stabilising. In Europe, despite the media focus on the success of xenophobic politicians in Hungary and Poland, the pendulum is swinging away from economic nationalism in the countries that …
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Columns
‘Competition for talent’ a poor excuse to keep key executives’ pay under wraps
OCBC should put its properties into a Reit and distribute the trust’s units to shareholders
Why a stronger US dollar is dangerous
An overstimulated US economy is asking for trouble
Too many property agents? Cap commissions on home sales
Time to study broadening of private market access