It might not feel like it to striking workers, but for the first time in decades the (im)balance of power between labour and capital is apparently tilting back in their favour.
A new “macro supercycle” approaches, writes TS Lombard’s optimistic head of global macro Dario Perkins, and there’s nothing anyone can do to stop it.
Neoliberalism gave us free trade, globalised supply chains, deregulation, smaller government, independent central banks and the death of trade unionism (especially in the US and the UK). The 2020s are set for a partial reversal. Deglobalisation, which started even before Covid-19, is likely to gather pace.
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