Economic nationalism, which prioritizes domestic control of the economy and national interests, has seen resurgences throughout history. Several factors contribute to its rise:

• Economic Crises and Downturns:

  Economic hardship, such as recessions, depressions, or financial crises, often fuels economic nationalism. When people experience job losses, wage stagnation, or business failures, they may become more receptive to policies that promise to protect domestic industries and jobs from foreign competition.

• Perceived Unfair Trade Practices:

  Beliefs that other countries are engaging in unfair trade practices, such as currency manipulation, dumping (selling goods below cost), or using state subsidies to give their companies an advantage, can lead to calls for protectionist measures. These measures aim to level the playing field and safeguard domestic industries.

• Job Losses and Industrial Decline:

  The decline of traditional industries and the loss of manufacturing jobs, often attributed to globalization and free trade agreements, can trigger economic nationalism. People may feel that their livelihoods and communities are threatened by foreign competition, leading them to support policies that prioritize domestic production and employment.

• National Security Concerns:

  Concerns about national security, particularly in strategic sectors such as defense, energy, and technology, can drive economic nationalism. Governments may seek to protect domestic industries in these areas to ensure self-sufficiency and reduce reliance on foreign suppliers, especially from countries perceived as rivals or adversaries.

• Political Ideology and Populism:

  Economic nationalism is often intertwined with political ideologies, particularly populism. Populist leaders may exploit economic anxieties and promise to restore national greatness by prioritizing domestic interests over international cooperation. They may advocate for protectionist policies, such as tariffs and import quotas, to appeal to voters who feel left behind by globalization.

• Geopolitical Tensions:

  Rising geopolitical tensions and trade wars between major powers can also contribute to economic nationalism. Countries may retaliate against each other's trade policies, leading to a cycle of protectionism and economic fragmentation. Additionally, countries may seek to reduce their dependence on rivals by promoting domestic production and diversifying their trading partners.