> I think there will be a new Cold War, this time Russia/China vs the West. This may not be a bad outcome. I think it will be good for the average citizen of developed countries in a lot of countries if globalization gets slowed a little. We traded cheap crap for a big increase in job insecurity and rising inequality.

I agree. Globalization has had a lot of economic and social negatives (e.g. selling your fishing rod to buy a fish), and it's delusional at this point to think it will do anything to address the deep political differences and fundamental rivalries that exist between the blocs.

There's probably a lesson somewhere in this about keeping economists on tighter leashes.