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    The global economic crisis and the future of neoliberal globalization: rupture vs. continuity

    Öniş, Z. and Güven, Ali Burak (2011) The global economic crisis and the future of neoliberal globalization: rupture vs. continuity. Global Governance 17 (4), pp. 469-488. ISSN 1075-2846.

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    This article outlines the main elements of rupture and continuity in the global political economy since the global economic crisis of 2008-2009. While the current calamity poses a more systemic challenge to neoliberal globalization than genetically similar turbulences in the semi-periphery during the 1990s, we find that evidence for its transformative significance remains mixed. Efforts to reform the distressed capitalist models in the North encounter severe resistance, and the broadened multilateralism of the G-20 is yet to provide effective global economic governance. Overall, neoliberal globalization looks set to survive, but in more heterodox and multipolar fashion. Without tighter coordination between old and emerging powers, this new synthesis is unlikely to inspire lasting solutions to pressing global problems such as an unsustainable international financial architecture and the pending environmental catastrophe, and may even fail to preserve some modest democratic and developmental gains of the recent past.


    Item Type: Article
    Keyword(s) / Subject(s): global economic crisis, neoliberal globalization, G-20, models of capitalism, emerging markets
    School: Birkbeck Faculties and Schools > Faculty of Humanities and Social Sciences > School of Social Sciences
    Depositing User: Sarah Hall
    Date Deposited: 22 Oct 2013 16:22
    Last Modified: 02 Aug 2023 17:08


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