New ThinkChina video: Political Economy and Military Power
Watch or re-watch the ChinaTalks lecture by Professor Jørgen Ørstrøm Møller on Political Economy and Military Power. Watch or re-watch to learn how the world is transitioning towards a new power structure from globalization to regionalization.
USA was the last country able to project power globally in support of allies and shaping economic globalization. It is no longer capable of doing so. The global financial crisis 2008-2009 disclosed a number of weaknesses in the US economy signalling inability to finance a global role. President Trump realigns benefits and commitments flowing from its global role by reducing commitments. The main challenger, China, is not strong enough to be a global leader. Both countries are pushed towards regional powers with the main goal of keeping access to the global economy open. This points to a future global structure built around regionalization instead of globalization.