LSE: Public lectures and events Economic nationalism and global (dis)order
Jun 9, 2025
Robert Falkner, a Professor of International Relations at LSE, discusses the rise of economic nationalism and its impact on global stability. He critiques traditional diplomatic theories that overlook economics and highlights the shift from globalization to protectionist measures in light of recent U.S. policies. Falkner explores how cultural anxieties and geopolitical tensions, particularly between the US and China, are reshaping international relations. He emphasizes the challenges faced by global institutions like the IMF and the WTO amidst rising nationalism.
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Defining Economic Nationalism
- Economic nationalism prioritizes a nation's economic interests using tariffs and subsidies.
- It opposes liberal international economic cooperation despite supporting domestic liberal capitalism.
2000: Globalization's High Point
- The year 2000 marked the height of globalization with broad bipartisan support for free trade policies.
- Expectations that China joining the WTO would boost Western economies proved overly optimistic.
US Shifts to Tariff Policies
- The US under Trump reversed free trade orthodoxy with tariffs up to levels unseen since the 1930s.
- This marked a dramatic shift toward economic nationalism in a historically free-trade oriented nation.
