Fears of Foreign Ownership: The Old Face of Economic Nationalism

This paper examines recent incidences of 'economic patriotism' to determine whether this new wave of protectionism against foreign ownership represents a new breed of mercantilist fervor or a reincarnation of protectionism from years past. By placing the examples in their socioeconomic and historical context, the paper analyzes the future of economic nationalism within the world economy and the global trade system. This paper predicts that the current round of ownership protectionism will remain a transient occurrence that will not prevail over the long term. Economic patriotism may resurface in various countries on an intermittent basis but it will not be a sustainable force.