Global Order After the Financial Crisis


Global Order After the Financial Crisis


Harold James



Today there exists a real possibility of deglobalization, not so much because of trade protectionism (that was a principal driving force of the last big episode of deglobalization in the 1920s and 1930s) but from the response to the character of the current crisis, which is primarily a financial one, and which will prompt a new financial nationalism that brings very different policy approaches to those of the past quarter century. In the 1990s, the most dynamic and richest states were generally small open economies: Singapore, Taiwan, Chile, New Zealand, and in Europe the former communist states of Central Europe, Ireland, Austria, and Switzerland. In the world after the financial crisis, the center of economic gravity will shift to really large agglomerations of power. Does this mean that the new world order will inevitably be a China-centered world?

Harold James is professor of history and international affairs at Princeton University.

Publication Date



financial crisis, global order, deglobalization, financial nationalism, China


Finance | International Economics

Global Order After the Financial Crisis