Here's my simplified take on Bannon.
Vox writes:
Bannon’s project centered on opposition to what he derisively called
“globalism”: the idea of tearing down borders and linking countries
through trade, immigration, and international institutions like NATO and
the United Nations. He believed that Brexit and Trump’s rise in
particular showed the way for a global uprising of so-called
“nationalists” or “populists” against the status quo.
“We believe — strongly — that there is a global tea party movement,” Bannon said in a 2014 speech.
“The central thing that binds that all together is a center-right
populist movement of really the middle class, the working men and women
in the world who are just tired of being dictated to by what we call the
party of Davos.”
But here's the thing: globalisation
has worked well, particularly in terms of stopping the wars in Europe (and, I suppose, the Pacific too if you count the rise of Japan as a proto-globalisation success), as well dramatically raising global wealth, mainly via China's engagement with trade and capitalism. It has come at an adjustment cost to middle America and parts of Europe in particular, but then again other recent policy issues unrelated to globalisation of trade (poor regulation of banking, nutty policies in Greece, tax reform that benefits the rich, and technological change generally) have played a significant role in the decline of the fortunes of the middle class too, particularly in the last decade.
What's more, with the obvious looming economic and humanitarian problem of global warming, a globalist approach to address that is the only one that makes sense.
This is why the Bannon project was eccentric and fundamentally misguided, even leaving aside the distasteful, if not dangerous, ethnonationalist aspect. Globalisation does present problems for the West, but given its successes, it's no wonder that the rest of the world, and "big picture" institutions like the Catholic Church - save for its most conservative element, which is engaged in its own war against what might be called the globalisation of ideas - were not on side with the Bannon response. Throwing the baby out with the bathwater never made sense, and indeed, the same thing can be said about Brexit.
What's more, an increase in nationalist, isolationist sentiment is hardly the cure for a threat from radicalised Islam: isn't it sort of obvious that the isolation of countries that already have large Islamic influence would be more likely to increase the Islamic nationalist sentiment in those countries too? (Sure, full engagement, such as with the likes of Saudi Arabia also has its own problems, but the West seems doomed to play a very complicated dance while it waits for Islam to sort out its centuries old internal civil war on the global stage.)