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The Ascent of Globalisation$
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Harry Blustein

Print publication date: 2015

Print ISBN-13: 9781784992897

Published to Manchester Scholarship Online: May 2016

DOI: 10.7228/manchester/9781784992897.001.0001

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PRINTED FROM MANCHESTER SCHOLARSHIP ONLINE (www.manchester.universitypressscholarship.com). (c) Copyright Manchester University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in MSO for personal use.date: 23 October 2019

Epilogue

Epilogue

Chapter:
(p.242) Epilogue
Source:
The Ascent of Globalisation
Author(s):

Harry Blutstein

Publisher:
Manchester University Press
DOI:10.7228/manchester/9781784992897.003.0015

At the start of the twenty-first century, globalisation faces serious challenges. Since 9/11, particularly during the presidency of George W. Bush, US unilateralism has undermined the rule of law, as the US withdrew or undermined a number of international treaties. The Bush Administration also blocked reform of the IMF and World Bank, preventing emerging powers like China to play a more prominent role in global governance. And finally, the universality embedded in the World Trade Organization is being challenged by major regional trade agreements. As a result, the global architecture is fraying with the rise of nationalism and regional blocs. Moreover, the public is losing confidence in globalisation as governments fail to strengthen the global financial system in the wake of the 2007/8 credit crunch, and cannot agree to a strong treaty to counter climate change.

Keywords:   Challenges, Fragmentation, American exceptionalism, De-globalisation, Global Financial Crisis, Climate change

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