Citizens Point

The Post-covid world is unmistakenly headed towards reverse globalization of market economies. This important development is led by numerous challenges faced locally by Western countries, such as USA and European countries. The rise of the far-Right in Europe is real and it has brougt to fore the deeply embedded fear against migrants. Lead economy USA has its own version under the Trumpian selectivism in migrant issues. World trade is not closing. Rather, countries are adopting trade practices which resembles a close regulation of policies and markets. Trump’s selective tariffs on other nations, US chips embargo, China’s overt promotion of native companies, India’s Atma-Nirbhar Bharat, Europe’s green tax, etc. In all these policies, trade is open to most items; but closely regulated in various other commodities tied to domestic interests. It has definitely derailed the WTO’s goal of elimination of tariffs and fair play in global politics. Will it last?