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07 July 2017

The G20 Parade Of Monsters

By Emanuel Martinez By Giuseppe Caccia and Lorenzo Marsili for Political Critique – The turn of the century marked the zenith of globalisation and the golden era of G7-G8 summits. One model seemed fit for all: neoliberal economics and democratic politics. One obvious hegemon was in the room: the United States of America. And one clear ambition charted the course ahead: defining a “new world order” supported by the optimistic claim of a prosperity for all. That picture has blown up. Ten years after the outbreak of the global financial crisis, the snapshot that emerges from the Hamburg G20 summit is one of a global disorder where no clear model, no clear hegemon, and no clear ambition prevails. The failure of the neoliberal model should be evident to all: financial and extractive capitalism has led to increasing inequalities and secular stagnation, decline of the Western middle classes and concentration of wealth on a scale not seen since the belle époque. In the meantime American hegemony is waning and challenged – from Eastern Europe to the South China Sea; the election of Donald Trump to the White House has led even traditional European allies to question the trans-Atlantic special relationship.

GREENTV Source: The G20 Parade Of Monsters

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