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Sergio Marchionne told it like it was. Shortly before his death I asked the FCA CEO whether Donald Trump’s trade wars and Britain’s turmoil over Brexit—its departure from the European Union, one of the world’s largest trade blocs—posed a threat to his company’s business. He paused a moment, then powered ahead: “These are strange times,” he agreed. “We have never been here before.”
Indeed. Globalists are out. Economic nationalists are in. It’s a bad time to be running an...