Question

In: Economics

Can the rise of populist government undermine the liberal international order?

Can the rise of populist government undermine the liberal international order?

Solutions

Expert Solution

A populist government is determined to be the one which focuses it's agenda of growth and development towards only a selected scale of Elite classes which can be corporate giants , big industrialists , politically strong agency etc. A populist government doesn't focus on inclusion and collective growth of the people instead it proves to be negative for the people with low standards of living , essentially the poor class. The policies introduced by a populist government generally causes rise in an inequality by rising the rich - poor gap . The rich tend to get richer while the poor tends to get poorer. Such policies might be good for GDP numbers but causes a major disbalance in the working and functioning of economy. Violation of human rights , exploitation of poor class etc are some faces to populist government .

Liberal international orders are the direct result of globalisation and liberalisation in the world which was seen essentially after the growth of industrial and technological revolution. With the world becoming a shorter market with trade and connectivity rise, the need for liberal international orders rose, in order to regularise the patterns for these trade systems.

A populist government can interfere and undermine the spirit of international trade liberalism. This is by restricting the trades in favor of the domestic giants , organising and managing the populist campaigns , in favour of their businesses. This causes unfair high prices for low quality goods for the domestic market having a populist government control. Hence to regulate this, some international rules and regulations should be followed , in order to protect the people with a populist government having a populist strategy.


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