Most commentators see IP as a prime example of globalization. The article challenges this view on several levels. In a nutshell, it claims that economic nationalist concerns about domestic industries and economic development lie at the heart of the global IP system. To support this argument, the article summarizes and categorizes IP policies adopted by selected European countries, the European Union, and the USA. Section B presents three types of inbound IP policies that aim to foster local economic development and innovation. Section C adds three versions of outbound IP policies that, in contrast, target foreign countries and markets. Concluding Section D traces a dialectic virtuous circle of economic nationalist motives leading to global legal structures. This process has been at work throughout the history of modern IP, with the recent past posing no exception. The article furthermore shows that current EU and US international IP policies strongly resemble each other, casting doubt on the two players' seemingly contrasting attitudes toward globalization. The article provides a far more nuanced description than what is often described as a simplistic nationalist-globalist dichotomy. Finally, the article identifies the basic function and legal structure of IP as the reason for the resilience and even dominance of economic nationalist motives in international IP politics. Intellectual property concerns exclusive private rights that are territorially limited creatures of (supra-)national statutes. These legal structures make up the economic nationalist "DNA" of IP.