A hundred days into President Donald Trump’s second, nonconsecutive term, an Economist magazine cover was already in countdown mode to its end, with the headline, “Only 1,361 Days To Go.”

The accompanying article was a full-throated defense of “neo-liberalism,” with an embrace of free trade, the U.S. dollar as the world’s default currency, and a broadly internationalist foreign policy —basically, a move away from the nationalist-populist push of Trump’s MAGA movement over the past decade.