The Big View How globalisation set the stage for new strongmen
Nov 11, 2025
Branko Milanovic, an economist renowned for his work on global income distribution, discusses the interplay between globalization and rising authoritarianism. He argues that Trump, Xi, and Putin share similarities as part of a global backlash against free trade. Milanovic explores how perceptions of inequality have shifted and the implications of China's economic rise. He warns of increasing geopolitical tensions and considers the impact of AI on inequality, questioning if nationalist policies can genuinely support everyday Americans.
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Global Rise Shifted Inequality Politics
- China’s rapid rise reduced global inequality but widened domestic inequality in rich countries, fueling political backlash.
- Branko Milanovic situates inequality within politics, arguing economic data must be joined to political analysis.
External Shocks Shape Domestic Politics
- External global events like China's growth create deep domestic political consequences in rich countries.
- Milanovic links outsourcing and globalization to voter dissatisfaction that fuels populist politics.
Three Leaders, One Reaction
- Trump, Xi and Putin act as counter-revolutionaries reacting to the high-globalization era.
- Each leader mobilizes different domestic forces against elites tied to previous globalization policies.
