Voters across advanced economies have turned against traditional centre-right and centre-left parties toward populist and more extreme conservative and liberal ideologies driven by sovereignty, immigration, trade and other issues. The political movement we have termed the ‘Politics of Rage’ is challenging the foundations of globalisation as we know it. One of the first major warning shots of this global shift was Brexit – the UK’s vote by referendum to leave the European Union – and it remains the most advanced manifestation of the potential for advancing de-globalisation.

In the fifth episode of The Flip Side podcast series, Marvin Barth, Head of FX and Emerging Markets Macro Research, sits down with Fabrice Montagné, Barclays’ Chief UK Economist, to debate how Brexit represents de-globalisation in Europe, assess where Brexit might lead and discuss what lessons the UK’s exit from the EU might offer for other countries grappling with similar phenomenon.