Understanding the Geopolitical Implications of the Global Financial Crisis

Author
Wu Xinbo
Content Type
Journal Article
Journal
The Washington Quarterly
Volume
33
Issue Number
4
Publication Date
October 2010
Institution
Center for Strategic and International Studies
Abstract
Although the global financial crisis breaking out in the fall of 2008 seems to be drawing to an end, it is still too early to tell exactly how big a loss it has caused to the world economy. Viewed through a macro politico-economic lens, the global financial turmoil formally put an end to the unipolar post—Cold War era, in which the U.S. power preponderance, its alleged universal politicoeconomic model of development (often referred to as the Washington Consensus), and its overwhelming international influence had been a defining feature. The looming new era is characterized by the emergence of a multipolar power structure, plural politico-economic models, and multiple players on the international stage.
Topic
Cold War, Financial Crisis
Political Geography
United States, Washington