Not the beginning and not the end

Rana Foroohar writes: Time to rethink investment choices and re-read history. The US also stepped up pressure on its allies to limit Huawei’s ability to do business in their markets — something that mirrors sentiment already brewing in places including Germany, which is once again pushing industrial policy and “national champions”.

This underscores the reality that the political impetus for deglobalisation does not begin and end with the Trump administration. It is no longer limited to the far-right or far-left. Most of the announced Democratic presidential hopefuls for 2020 — Elizabeth Warren, Kamala Harris, Kirsten Gillibrand, Sherrod Brown — appear to be coming around to the view that the economic relationship between the US and China will have to substantially change.

Deglobalisation is a complex, slow-burn process and not yet a done deal.

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