Although globalization is beneficial for the progress and prosperity of a nation as it enables utilisation of comparative advantages from resources of other nations, there have been several instances where globalization has counter attacked the developed nations and their citizens. For example, Bill Clinton proposed the entry of China in WTO on the grounds of human rights and political liberty. Nevertheless, even though China met the obligations of WTO, it maintained artificially cheap currency and discouraged foreign investors and products. This leads to oversupply of Chinese goods in foreign markets at a relatively cheaper cost wiping out 2 million American jobs. China followed a highly repressive import policy showing active hostility towards other nations dumping its own goods in foreign markets.
Hence, it has been correctly argued to some extent that intense backlash against globalism is more cultural than rational. Globalism comes from immigration and discouraging immigration is not fundamentally economic. The votes in favour of Brexit and Donald Trump were not because nationals were bothered about competition from immigrants, but to protect the linguistic, cultural and religious norms of their nations. The troubling aspect of this extreme nationalism is that it will give birth to evils like xenophobia, racism, jingoism and terrorism as a measure to protect culture and tradition (Haidt, 2016). People fear the loss of heritage and culture in this situation and feeling of resentment would harbour in every individual, causing them to be more impacted by this phenomenon emotionally and mentally. The world cannot progress with one strong nation prospering, while the other nations suffer from the darkness of humanitarian crisis making them weaker and more vulnerable. The future of such a world is only violence and devastation.
Extreme nationalism cannot be taken as patriotism and hence is hiccup for globalization, modernization and vitalization of the world. Thus, there is a need to strike a balance between the economic and socio-cultural growth and development of world’s economies.