Question

The history of trade agreements shows the shifts over time between Globalism and Nationalism. Where do you think we are heading in the next few years? Do you think this is a positive or negative? Why?  NOTE: Be specific and ensure that you incorporate from both assigned readings and external research. Always cite your work.

Answer 1

Globalisation refers to the integration of world economies where the free flow of goods, service, capital occur at enormous speed. On other side, the nationalism is inimical to globalisation. Nationalism gives importance to the domestic region only.

Globalisation failed to benefit all stakeholders. Thus many disgruntled entities went against the globalisation. The US president took the anti globalisation stance after assuming the presidentship. Almost all countries are following the inward policies. For example the brexit is also form the instance of anti globalisation step.

The hyper Nationalism is not going to prove beneficial to all stakeholders. the reduction in the free flow of goods would reduce the consumer surplus. Apart from this, it would increase the cost of production.

Thus we need to make globalisation more inclusive so that its benefits might flow to all stakeholders. The post COVID-19 period is going to be more nation inspired.