Global Capital Flows in a World of Increasing Nationalism & Protectionism




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The global political and economic landscape has undergone rapid change over the past decade. Popular and political reactions to the 2008-2009 Global Financial Crisis (GFC), increasingly multipolar geopolitics and the asymmetric impact of new technologies have converged in the rise of political populism, and in turn that of
the nationalist, protectionist and isolationist movements. Investors, including those in the commercial real estate sector (CRE), face greater unpredictability and strategic uncertainty and are under pressure to adapt by becoming more resilient, more flexible and more diverse.

Against this backdrop, this discussion paper focuses on the threats and opportunities posed by growing nationalism and protectionism to global capital flows in the real estate investment sector.