Reclaiming Sovereignty

Abstract

This chapter is about how the Great Financial Crisis brought about a crisis of corporate and financial globalization. Firstly, the consequences of the financial crisis for the global economy (financial wars, new asset bubbles, food insecurity) are analyzed. Secondly, the decline of the West, especially the United States is discussed. Thirdly, we examine the protective measures against external shocks taken across the world (formation of regional blocs, re-regulation of capital accounts, limiting US power). Fourthly, the modalities of de-globalization and the need to restore (democratic and national) sovereignty are discussed.