German Chancellor Angela Merkel talks with U.S. President Donald Trump at the G7 Summit group in May.
In times of global angst, we tend to organize ourselves into rival camps and casually hurl political epithets at each other as a matter of practice and principle. A couple of similarly angst-ridden generations ago, identifying yourself as a communist or capitalist could provide you with a medal or land you in jail, depending on where you were in the world and the company you kept. Now, it is self-proclaimed globalists and nationalists who are pitted against each other in a battle to passionately defend or radically reconstruct the global order. Previous columns have examined the underlying forces -- from aging populations in the advanced industrial world, to technological change compensating for lagging productivity, to major evolutions in global trade -- that have put this most recent global rebalancing in motion. This rebalancing will take generations to play out but is growing more visible by the day. Just watch the battle...
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