The EI Podcast The end of Pax Britannica
Dec 11, 2025
Discover the intriguing analysis of the decline of a liberal world order. Explore how geopolitical tensions shifted Britain from free trade to protectionism. Listen as rising powers like Germany and the US challenge British dominance, leading to an era of imperial overstretch. Delve into the historical parallels with today's shifting global dynamics and how contemporary protectionism mirrors past trends. The conversation poses thought-provoking questions about the future of global order and security-driven economies.
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Liberal Order Built On Force And Finance
- From the 1840s Britain built a liberal international order that promoted trade, investment and technological integration.
- This system relied on naval power, capital exports and near-zero tariffs to knit global markets together.
Globalisation Fueled Protectionist Backlash
- Global integration lowered costs but also triggered protectionist backlashes from producers hurt by competition.
- The US and Germany led the protectionist revival that reshaped late-19th-century trade politics.
Liberal Order Built Competitors
- British trade and investment powerfully accelerated US and German industrialisation while subsidising their security.
- That export-led growth eventually eroded Britain's relative economic and strategic dominance.
