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384 pages, Hardcover
First published November 4, 2014
The looming crisis of the contemporary [global economic] system is actually pretty straightforward. Everything that makes the global economy tick – from reliable access to global energy supplies to the ability to sell into the American market to the free movement of capital – is a direct outcome of the ongoing American commitment to Bretton Woods. But the Americans are no longer gaining a strategic benefit from that network, even as the economic cost continues. At some point – maybe next week, maybe ten years from now - the Americans are going to reprioritize, and the tenets of Bretton Woods, the foundation of the free trade order, will simply end.
In the world to come, Americans won’t have much need for the rest of the world. And what needs they do have will be largely divorced from what they perceived as important in the period of 1946-2014. Without global needs or global interests, there is no need to impose a global order.