Deglobalization

Ian Bremmer says the financial crisis is putting the brakes on the expansion of free-markets and accelerating the development of “state capitalism”. “Globalization has been the dominant driver of international politics and global markets for a generation. But in several countries around the world, we’re now seeing a fast-emerging struggle between free-market liberalism and a new form of capitalism dominated by the state. The collapse of communism didn’t bring about the final victory of free-market capitalism, because it didn’t put an end to authoritarian government.”