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It's not either globalism or nationalism

Brexit, Trumpism indicate what's needed is a new rebalancing between these two forces

In practical terms, Brexit means the political and economic elites may have to slow down liberalising global trade, deregulating financial markets, and new immigration.

WE LIVE in a time when every political scandal is described as a new Watergate that is about to topple the US presidency and any international crisis is analogised with the assassination of the Archduke Franz Ferdinand of Austria, signalling the dawn of another world war.

It may not be...