Nationalism resurgent

With widespread ill-effects -- like food and oil shortages

Excerpt

The world isn't as flat as it used to be. During the long march toward globalization, international borders and trade barriers came down. Communism fell. Protectionist walls in Latin America and elsewhere were dismantled. Governments -- long prone to meddling in trade -- took a back seat to broader market forces. In a globalization manifesto, New York Times columnist Thomas Friedman declared that the Internet and other planet-spanning technologies were erasing national boundaries. The world, he said in a 2005 best seller, was flat.

No longer. The global economy appears to be entering an epoch in which governments are reasserting their role in the lives of individuals and businesses. Once again, barriers are rising. Call it the new nationalism. "The era of easy globalization is certainly over," says Pulitzer Prize-winning author Daniel Yergin, whose 1998 book, "The Commanding Heights," detailed the triumph of markets over nations, starting with British deregulation under Margaret Thatcher. "The power of the state is reasserting itself."

Just a decade ago, Asia, Latin America and Russia were on financial life support from the International Monetary Fund and World Bank. The U.S. was planning yet another round of global trade negotiations. The European Union was writing a constitution to shift power to Brussels from member nations. Now borrowers shun the IMF and World Bank. Trade talks are shelved. Barriers to foreign investment are rising around the world. State-owned companies are expanding, particularly in oil and gas. Public support of immigration restrictions is growing in countries from the U.S. to India.

Much more here

Posted by John Ray. For a daily critique of Leftist activities, see DISSECTING LEFTISM. For a daily survey of Australian politics, see AUSTRALIAN POLITICS Also, don't forget your summary of Obama news and commentary at OBAMA WATCH