zundel

Wednesday 316

Nation state

Filed under: Economy, Politics — Tags: , , — zundel @ pm

Welcome to the new world order—the old world order.

2008 and the Return of the Nation-State” by George Friedman of Stratfor 2008-10-27

Since the fall of the Soviet Union, there has been a tendency to view the world in terms of global institutions, from the United Nations to the World Trade Organization. In the summer of 2008, none of these functioned. The only things that did function effectively were national institutions.

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2 Comments »

  1. I disagree with your “none of these functioned” saying. The organizations you stated acted responsibly and have done so much to the world economy by serving developing countries. It may be that the don’t have a big role in the developed countries but the world is not only those few countries. I am not speaking of their methods and ways of doing stuff but taking overall, they have done much..

    http://www.lasithasilva.wordpress.com

    Comment by Lasitha Silva — Wednesday 316 @ pm

  2. Thank you for your comment.

    Various transnational organizations, such as the Food and Agriculture Organization (FAO), despite their problems, have made useful contributions.

    The quote from Friedman summarizes the observations in his article: that NATO failed to respond to the military conflict between Georgia and Russia, and that the various European organizations, such as the European Central Bank (ECB), failed to respond to the recent financial crisis. He takes those as examples of a change de-emphasizing the power of corporations and transnational organizations, and re-emphasizing the power of states.

    Europe has greater risk from the recent financial crisis because of the close connections between its banks and industries. And has great challenges with Russia because of proximity and energy dependency.

    The upcoming G20 meeting will attempt to address the recent financial crisis (the so called Bretton Woods 2) and probably get nowhere—in part because of some the problems that Friedman outlines.

    Comment by zundel — Wednesday 316 @ pm


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