After The Washington Consensus, The Beijing Consensus?
November 6th, 2008 by SocProf and tagged Economy, Global Governance, Globalism, Globalization, Politics
In Global-e, Michael Peters reviews the major postmortems offered by left-of-center economists such as Joseph Stiglitz, John Quiggin or Robert Reich. The consensus seems to be that we are due for an overhaul of the global financial system after what can be definitely be seen as a failure of the neo-liberal order.
And so then goes the Washington Consensus, to paraphrase a blog post by Tony Karon, written back in April.
And Peters concludes,
So, if the consensus seems to be that we can bury the neo-liberal order that has prevailed for the past 30 years of so, what next? What then? Writing in Le Monde Diplomatique, Alain Gresh suggests that we are now entering the era of the Beijing Consensus. What is meant by this phrase?
In other words, the Beijing Consensus represents a flexible (liquid?) structuration of relationships between nation-states, and here, Gresh asserts the failure of analysis of enthusiastic globalists who prophesied the end of the Westphalian order. In a non-polar or multipolar world, China may rise to dominance but not to hegemony and other countries of the Global South can also assert economic, political, or ideological power whereas the US, Russia and China still exercise military dominance.
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