In the wake of the global financial crisis a new international order is coming to the fore, writes Chris Luenen. What we are witnessing today are the birth pangs of a world of three regional monetary and trading blocs.
The realisation is slowly setting in that once the global crisis has abated, globalisation, as we have known it, will not resume and we will not be returning to business as usual. The emotional, political and economic impacts of the still unfolding crisis are far more severe than widely acknowledged. In fact, the entire post-WW2 global economic system is in the midst of fragmenting along regional lines. And there is not much that can be done about it.
Read the full article in the December 2010 edition of Political Insight.