economic nationalism
C1Formal, Academic, Political
Definition
Meaning
A policy or ideology that prioritizes a country's domestic economic interests through tariffs, trade restrictions, and favouring local industry.
An approach where governments use policy tools to protect and promote domestic businesses and workers against global competition, often linked to political sovereignty, job protection, and national security concerns regarding key industries.
Linguistics
Semantic Notes
Often carries a political or ideological charge. Can be used neutrally to describe policies, but frequently used critically to imply protectionism or isolationism.
Dialectal Variation
British vs American Usage
Differences
Concept and term are equally used in both variants. The specific policy examples (e.g., "Buy American" vs. "British jobs for British workers") differ by country.
Connotations
In both, it can be a neutral descriptor or a pejorative term for protectionism. In UK political discourse post-Brexit, it is often associated with debates on sovereignty. In US discourse, it's frequently linked to trade wars and 'America First' policies.
Frequency
High frequency in political and economic news contexts in both varieties.
Vocabulary
Collocations
Grammar
Valency Patterns
[Government/Country] + [practises/embraces/adopts] + economic nationalismThe rise of economic nationalism in + [region/country]A shift towards economic nationalismCriticism of/opposition to economic nationalismVocabulary
Synonyms
Strong
Neutral
Weak
Vocabulary
Antonyms
Phrases
Idioms & Phrases
- “'Buy American'”
- “'Britain First'”
- “'Fortress Europe'”
Usage
Context Usage
Business
"The new tariffs are a clear sign of growing economic nationalism, which could disrupt our supply chains."
Academic
"The paper examines the correlation between populist political movements and the resurgence of economic nationalism in the 21st century."
Everyday
"Some politicians argue for economic nationalism to keep factories from closing and moving overseas."
Technical
"The model simulates the long-term GDP impact of a shift from multilateral trade agreements to economic nationalism."
Examples
By Part of Speech
verb
British English
- The government was accused of economic nationalising key industries.
- They sought to economic-nationalise the steel sector.
American English
- The administration's actions effectively economic-nationalize trade policy.
- Critics warn against economic nationalizing the economy.
Examples
By CEFR Level
- Some leaders like economic nationalism. They want to help their own country's businesses.
- Economic nationalism means a country tries to protect its own companies from foreign competition.
- The recent rise in economic nationalism has led to higher tariffs on imported goods, which many economists criticise.
- While ostensibly a tool for safeguarding domestic employment, economic nationalism often provokes retaliatory measures that can harm global economic growth and innovation.
Learning
Memory Aids
Mnemonic
Think: Nation's Economy FIRST. 'ECO-nomic NATIONAL-ism' – putting your own nation's economy first.
Conceptual Metaphor
THE NATION AS A FORTRESS (protecting its economic walls from foreign goods). THE NATION AS A FAMILY (prioritizing the economic well-being of its own members).
Watch out
Common Pitfalls
Translation Traps (for Russian speakers)
- Do not confuse with 'national economics' (национальная экономика), which is a neutral field of study. 'Economic nationalism' is a specific policy stance (экономический национализм). Beware of falsely associating it with 'ethno-nationalism' (этнический национализм); the core is economic policy.
Common Mistakes
- Using it as a synonym for all patriotism (it's specifically economic). Confusing it with 'nationalisation' (state takeover of industry). Incorrect stress: placing primary stress on 'eco-' instead of 'nom-' in 'economic' (/ˌɛkəˈnɒmɪk/).
Practice
Quiz
Which of the following is most closely associated with 'economic nationalism'?
FAQ
Frequently Asked Questions
They are closely related and often used interchangeably. Protectionism is the general practice of shielding domestic industries, while economic nationalism often implies this practice is driven by patriotic or sovereign ideology.
It is not exclusive to one side of the political spectrum. Historically, both left-wing (protecting workers) and right-wing (promoting national sovereignty) movements have advocated for forms of economic nationalism.
"Buy American" provisions in US government spending bills, or local content requirements in renewable energy projects in various countries, are contemporary examples.
Critics argue it leads to trade wars, higher prices for consumers, less choice, inefficiency in protected industries, and can damage international diplomatic relations.