ABSTRACT
Economic nationalism is undermining old-world relationships between nation and nation. This tendency to national isolation is not only undermining friendly international trading intercourse, which is a problem of economics, but it reacts on political relations. It is economic war we are now engaged in—the stage is merely shifted from the battlefield to the sphere of trade and commerce. Apart from a minority of extremists in this country, it is admitted that the growth of economic nationalism is a disaster to the world. And yet the thing derided and condemned by all nations has spread like a plague, every nation arming itself with every conceivable economic, monetary, or trade device against buying from its neighbours—whilst itself indulging in hectic efforts to become self-sufficing. It is the land of liberty and co-operation, to which the world used to look for leadership in the arts of peace and international goodwill.
