You can only understand the victory of Donald Trump and Brexit once you understand the failure of globalization …
Trump made rejection of globalization a centerpiece of his campaign. In his July 21st acceptance speech as the Republican nominee, he said:
Americanism, not globalism, will be our credo.
The Boston Globe bannered this headline on Thursday: “Trump won. Globalization lost. Now what?”
On election night, CNN’s Jake Tapper explained that many Americans voted for Trump because they are sick of the income inequality, globalization, and politics-as-usual that the status quo have given us. He pointed out that only a handful of people have gotten rich off of globalization, and a lot of people have been left behind.
Counterpunch wrote Friday:
The real meaning of this upset is that Wall Street’s globalization project has been rejected by the citizens of its homeland.