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The Crisis of Global Capitalism as the Harbinger of De-globalization

At no other time in the history of the world has the crisis in the global economy become a serious concern as it is currently the case. The promise of globalization at its inception, which was widely expected by both developed and developing countries as the resultant outcome of a process that would promote beneficial interdependence among countries of the world, seems to be ebbing and fizzling away in contemporary times.

The Crisis of Global Capitalism as the Harbinger of De-globalization
 

The Political Economy of Global Capitalism and Crisis

By Bill Dunn

New York: Routledge, 2014, 188 pages, $46.95, ISBN: 9780415844390


The Century of the Emerging World: Development with a Vengeance

By Paul Dobrescu

Newcastle upon Tyne: Cambridge Scholars Publishing, 2017, xii + 217 pages, £61.99,  ISBN: 9781443873161


A Strategic Understanding of UN Economic Sanctions: International Relations, Law, and Development

By Golnoosh Hakimdavar

New York: Routledge, 2014, 213 pages, $184.44, ISBN: 9780415538220


At no other time in the history of the world has the crisis in the global economy become a serious concern as it is currently the case. The promise of globalization at its inception, which was widely expected by both developed and developing countries as the resultant outcome of a process that would promote beneficial interdependence among countries of the world, seems to be ebbing and fizzling away in contemporary times. These new trends in which governments are beginning to project ultra-nationalistic policies that contradict trade liberalization, interdependence, and the deregulation of economic transactions among countries of the world, which are the lynchpins of globalization, are a clear indication that the world is on the verge of a new order. The emerging economic order has been manifesting in trade renegotiations, stricter immigration laws, the imposition of tariffs, bans on foreign/imported goods, and the erection of barriers to free trade, etc. With this development, the world is heading in a different direction which therefore puts to question the survival of the extant global capitalist order in its current form in the face of the palpable crises buffeting its essence. It is also logical to enquire whether or not capitalism is inherently crisis-ridden, or whether the crisis emanated from the violation of its guiding principles.

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