GOVT 44 Power and Development in the Global Economy
The latest wave of economic globalization has differently affected various regions of the world. One of the most often repeated (and disputed) assertions is that the economic power of the United States is fading and that the fortunes of the so-called BRIC countries (Brazil, Russia, India, and China) as well as other selected Emerging Economies ("the Second World") will mark the dawn of a more equal and, economically speaking, a more balanced global economy. The most recent financial crisis has put into question many of the assertions on both sides of this debate, in ways that question the very basic assumptions analysts of the global economy have been making since the creation of the Bretton Woods system in the aftermath of World War II. In this course we investigate the impact of the economic boom of the last two decades, the current crisis, and their impact on the economic fate and standing of particularly the United States, India, China, and Russia. We focus in part on efforts to create a new financial architecture for the global economy, and investigate how the debate between markets and state intervention has been affected by the ongoing financial crisis-and what this may mean for both countries that rely extensively on markets, and for those that strategically promote state intervention.
Instructor
Vandewalle