The US president Donald Trump has steam-rolled friends and foes alike with tariffs and threats of more tariffs if they don’t accept a deal on terms dictated by the US. Some, as the EU, have capitulated without a fight, making themselves the laughingstock of the world. But other countries are resisting these bullying tactics. To the Trump team’s surprise, one of these is India.

The strategic decision of the European countries to stand unconditionally by Israel despite the genocide and ethnic cleansing taking place in Gaza and the occupied West Bank can be difficult to understand. It greatly damages the European countries' reputation in the Global South and among their own populations. It smacks from afar of double standards, and one would have to be blind not to see that. The talk of "European values" comes across as what it is: empty talk.

A new political consensus has formed within the European NATO countries. It is argued that as they can no longer count on an automatic US security guarantee, they face an existential threat and there is therefore an urgent need for a dramatic rearming. They should be prepared for a war with Russia within 3-4 years, it is said. This consensus is supported by the whole political spectrum, from right to left. Only problem: facts don’t support it.

Life was easier in politics during the 40 years of neoliberal globalisation, as it would set strict limits for what the politicians could do. Whatever they proposed, they had to argue that the markets, and in particular the hyper-mobile international capital, would accept it. With the demise of neoliberal globalisation we have a new situation.

After being the dominant policy globally for 40 years, the neoliberal globalisation has been discretely ditched by the advanced economies. However, this doesn’t mean a general abandonment of neoliberalism, but rather a modification of how globalisation works. The main other elements of neoliberalism are still intact, but there may be some new opportunities for policies in favour of common people. Maybe. Or maybe not.