We had at least two Trumps in Yugoslavia - Tudjman and Milosevic: Joze Mencinger made comparison of Balkans with the world

We had few Trumps in Yugoslavia, at least two - Tudjman and Milosevic - said the Slovenian economist Joze Mencinger, making a comparison between the current global developments with detailed examples closest to us.

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Mencinger, in fact, believes that the price of "economic de-globalization" will be high. As explained on Business Magazine, the world economic order after the victory of Donald Trump in America after Brexit is changing fundamentally, and it is high time for this to happen.

- The system that was created after the "end of history" was no longer viable. The longer it would last, the price of decay would be greater. What form will Trump "de-globalization" receive is hard to say, but it looks like we have reached the end of ideological globalization. Price of economic de-globalization will be high - Mencinger said.

Foto: Wikipedia/Ziga

- The first was a narcissistic nationalists, other exploited nationalism to reach the government. Both wanted to create a Greater Croatia and Greater Serbia, and the results are a little small Serbia and Croatia. If Trump makes America great, the result will be a little America - believes Mencinger.

In his opinion, the growth of support for right-wing parties will weaken Europe, but will not jeopardize its survival. Mencinger estimates that Europe is accustomed to the crisis, but also that it completely lost in it. First, he says, by rescuing its banks and by "saving" Greece it turned that country into a Third World country, and deepened and prolonged the crisis with policy of austerity.

He also notes that the time in which foreign investment was a universal "cure-all" - has passed.

- Foreign investment is not a panacea, and their spill-over effects can be harmful, because in the long run the amount of capital outflow is certainly greater than its inflow. Just look at the balance of payments of countries with large foreign investments, the deficits incurred on account of capital outflows. But I understand that sometimes, in crisis situations, asset sale is the only solution - concluded Mencinger in an interview with Business Magazine.

(Telegraf.co.uk / Tanjug)