Endgame

As globalization has lost momentum, nationalism has returned to the fore.

The period from 1914 through 1945, marked by two disastrous wars and a global depression, was a particularly dark one in modern history. Then came an epoch of peace and prosperity: From 1945 to about 2015, the world experienced an unusual era of global integration and economic cooperation. From the smoldering remains of World War II grew an ethos of cross-border collaboration among the capitalist democracies of North America, Western Europe, and Eastern Asia. When the Cold War ended, globalization took off.

But in recent years, the world has pivoted again. Gone are the good vibes of transnationalism; they’ve been replaced by a much gloomier mood. As the global economy slowed, individual countries took on a sharp-elbowed view of their neighbors. Yesterday’s allies became today’s rivals. With cutthroat competition replacing cooperation, protectionist policies gained momentum. In another shift, the developed world suddenly became a hotbed of conspiracy theories. Unhinged belief systems such as QAnon illustrated the trend — many people were suspicious of expert analysis and mainstream consensus...