This was supposed to be the Era of No Fences. No walls between blocs. No borders between countries. No barriers to trade. Visa-free tourism. The single market. A global Internet. Frictionless transactions and seamless exchanges.
In short, a flat world. Whatever happened to that?
In the early 1990s, Israel’s then-Foreign Minister Shimon Peres published a book called “The New Middle East,” in which he predicted what was soon to be in store for his neighborhood. “Regional common markets reflect the new Zeitgeist,” he gushed. It was only a matter of time before it would become true in his part of the world, too.
I read the book in college, and while it struck me as far-fetched it didn’t seem altogether crazy. The decade from 1989 to 1999 was an age of political, economic, social and technological miracles. The Berlin Wall fell. The Soviet Union dissolved. Apartheid ended. The euro and Nafta were born. The first Internet browser was introduced. Oil dropped below $10 a barrel, the Dow topped 10,000, Times Square became safe again. America won a war in Kosovo without losing a single man in combat.