America and the World After Bush: Economics and Globalization
On Barack Obama’s second day in office, the Bush administration is fast fading into memory. As accidental tax evader Timothy Geithner prepares to take over at Treasury in an administration where transparency and the rule of law will be touchstones, it’s an excellent time to begin looking at the global economy.
To do that, we’ll once again turn to Thomas Barnett‘s forthcoming book Great Powers: America and the World After Bush. I’ll attempt to weave a unified thread out of Chapter 4, The Economic Realignment: Racing to the Bottom of the Pyramid; Chapter 7, The Network Realignment: The Rise of the SysAdmin-Industrial Complex; and Chapter 8, The Strategic Realignment: Resurrecting the Progressive Agenda.
America is being replaced as “the global demand” center by rising powers India and China. This means that we’re no longer the only agenda setters. This is “the price of our success in projecting the American System globally.” China’s economic growth is the key factor in the global economy and the rise of the BRIC quartet (Brazil, Russia, India, and China) and smaller emerging powers means “3 billion new capitalists who joined globalization over the past quarter century.”
Continued at New Atlanticist: America and the World After Bush: Economics and Globalization