Countries can pull up the drawbridge – but capital will pull them down again

All over the world, governments are putting up fences on their borders. History teaches us that they’ll come down again soon enough, says Dr Pippa Malmgren.

15-12-4-BW-634

The Berlin Wall: it was great to see it knocked down but now the world is building many more

When we pull walls down, GDP goes up. When we erect walls, GDP goes down. It seems simple enough. But are markets properly discounting the many new walls that are now being constructed to inhibit the free movement of human beings, capital and goods in the future?

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

Dr Pippa Malmgren (@DrPippaM) is a former US presidential adviser, and best-selling author of Signals and Geopolitics for Investors.