Just as 1914 was a frequency shift away from empires and towards individual nation states, so too is the world repeating this paradigm shift following the June Brexit vote, and growing anti-European Union sentiment. And as the top economies head to Hangzhou China during the first week of September for the next meeting of the G20, the primary topic will be the return of nationalism, and the move away from globalism by more and more nations.
Brexit and the rising anti-globalization sentiment are among global uncertain factors that are likely to feed into the discussions at the upcoming Group of 20 (G20) summit early next month in China, an Italian expert said.
In a recent interview with Xinhua, Giuseppe Sacco, a professor of political science andinternational relations at LUISS University in Rome, said the fact that US President BarackObama will leave the White House in a few months may also have an impact.
“Some pressing political events are taking place at the global level, and they might divert theG20 agenda or, at least, impact it,” said the former division director at the Organization forEconomic Cooperation and Development (OECD).
Specifically, Sacco said that the rising anti-globalization sentiment in the heart of the Anglo-Saxon world is a new and interesting phenomenon.
“Most intriguingly, this trend is not revealing itself in a country like Greece, for example, whichwas hit most badly by the global financial crisis and by consequent austerity measures easilyascribable to the globalized economy,” he said.
“Anti-globalization feelings have instead grown in Britain, and the Brexit referendum is much proof of that, and within the campaign of (Republican presidential nominee) Donald Trump in the United States,” he added. - China Daily
Ever since the Brexit referendum vote back in June, several other European nations have seen their own people demand the right to engage in an EU exit vote. Additionally, political parties that are both anti-EU and anti-euro currency in countries such as in France are gaining much support as the rejection of globalism is being replaced by a resurgence in nationalism.
President Obama will likely head to the G20 with the hopes of getting his Trans-Atlantic Trade and Investment Partnership (TTIP) passed in Europe, but the chances of this continue to diminish amidst the hundreds of protests all over Europe that are rejecting this secret agreement, and instead are pushing for a return to sovereign control over themselves.
The world is changing fast, and is quickly slipping away from the elites who desire to control the entire globe. And it may be a race to see which will come first… an economic collapse that opens the door to allow the powers that be the crisis they need to impose global governance, or political elections that see these oligarchs booted out of office and who may form new alliances based upon real free trade and self-governance.
Kenneth Schortgen Jr is a writer for Secretsofthefed.com,Roguemoney.net, and To the Death Media, and hosts the popular web blog, The Daily Economist. Ken can also be heard Wednesday afternoons giving an weekly economic report on the Angel Clark radio show.