In popular forms of government, politics tends to coalesce around a set of issues that are debated in the public and in front of the public. There’s a framework within which these topics are debated and the political factions represent the positions on those topics. This framework is the consensus. A range of answers has been deemed acceptable and anything the lies outside that range is considered fringe or heretical. This is the natural response to the challenges faced by democratic political systems.
In the West, the political parties tended to coalesce around economic schools, like communists, various flavors of socialism and flavors of market socialism. These were in the range of the political consensus. Libertarianism has always been fringe in Europe and in America, communism was always a fringe position. The result is the main points of contention in political fights were over economic policy. So much so that social policy and foreign policy have often been framed in economic terms.
Globalism, which the political elites have long saw as a way to sew up political divides, not just within countries, but between countries, has actually fractured the political consensus in the West. Once the factions within the elite settled on an agreed upon economic policy, they needed something else to decorate their respective flags in order to distinguish one faction from the other. After all, if everyone in the political class agrees on the main topics, there’s no need for parties. Politics becomes a beauty pageant.