Valdai Paper #51: US Policy And Globalization: Before And After the Global Financial Crisis

A long term perspective on these questions suggests that the American Empire remains relatively robust. If we define globalization as an ever deeper global division of labor, and American empire as the political and economic centrality of the US state and economy, then a longer perspective shows strong inner continuities with the Bretton Woods period. Those continuities larger involve continuity of strategic purpose, as well as a strong continuity of tactics.

Order exists beneath the superficial chaos on which most contemporary observers focus. Put simply, a unified system of global economic governance has never existed, but that has posed no barrier to US driven globalization of economic activity. Indeed, fragmentation allows the United States to divide and conquer its potential rivals.

About the author:

Herman Mark Schwartz, Professor, Department of Politics, University of Virginia, USA

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