newsweek.com: As countries grow more interdependent, they’re also becoming more nationalistic.

Here’s today’s quiz. What do the following have in common: (a) Vladimir Putin; (b) China’s currency, the renminbi; (c) the U.S.-Perutrade agreement; (d) Hugo Chávez. Answer: they all reflect the “new mercantilism.” It’s a significant and ominous development affecting the world economy. [ read more ]