Economic Nationalism: Parallels Between the 1920s and 2020s The Shadow of History The global economy is presently grappling with deepening rifts, akin to those that led to "economic nationalism," a downturn in worldwide trade, and the Great Depression of the 1920s. Christine Lagarde, President of the European Central Bank, has issued a caution on thisChristine Lagarde Cautions on Modern Economic Strain Comparable to 1920s Crisis