> Over the past thirty years the world’s major powers have all embraced “globalization”—an economic system that promised rising living standards across the world and that created common interests between the world’s most powerful nations. In the aftermath of the cold war, America was obviously the dominant global power, which added to the stability of the international system by discouraging challenges from other nations. But the economic crisis that struck the world in 2008 has changed the logic of international relations. It is no longer obvious that globalization benefits all the world’s major powers. It is no longer clear that the United States faces no serious international rivals. And it … Continue reading >Gideon Rachman