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Begin New Search Topic Financial Crisis Journal The Washington Quarterly

1. Understanding the Geopolitical Implications of the Global Financial Crisis

Author:
Wu Xinbo
Publication Date:
10-2010
Content Type:
Journal Article
Journal:
The Washington Quarterly
Institution:
Center for Strategic and International Studies
Abstract:
Although the global financial crisis breaking out in the fall of 2008 seems to be drawing to an end, it is still too early to tell exactly how big a loss it has caused to the world economy. Viewed through a macro politico-economic lens, the global financial turmoil formally put an end to the unipolar post—Cold War era, in which the U.S. power preponderance, its alleged universal politicoeconomic model of development (often referred to as the Washington Consensus), and its overwhelming international influence had been a defining feature. The looming new era is characterized by the emergence of a multipolar power structure, plural politico-economic models, and multiple players on the international stage.
Topic:
Cold War and Financial Crisis
Political Geography:
United States and Washington

2. Revisiting the Future: Geopolitical Effects of the Financial Crisis

Author:
Mathew J. Burrows and Jennifer Harris
Publication Date:
04-2009
Content Type:
Journal Article
Journal:
The Washington Quarterly
Institution:
Center for Strategic and International Studies
Abstract:
Every four years, the National Intelligence Council (NIC) publishes an unclassified report projecting global trends over the next fifteen years. The intent is to help incoming decisionmakers lift their sights above the here-and-now, focusing on longer-term trends likely to shape the strategic future of the United States. Inevitably, the NIC's estimations find a far wider audience. The most recent edition, Global Trends 2025: A Transformed World (hereinafter the report), was published last November, and already has received substantial media attention both within the United States and overseas. Completing the report in the midst of the financial crisis required the NIC to make risky predictions on the world's most volatile issues, from youth bulges and climate change to odds on a nuclear Iran, from whether the International Monetary Fund (IMF) might soon be spelled SWF for sovereign wealth funds in the developing world, to a Russia (and a Gazprom) rising, even as the ground was shifting day to day beneath its feet.
Topic:
Financial Crisis
Political Geography:
Russia and United States

3. Mastering Global Financial Crises: a German Perspective

Author:
Jörg Asmussen
Publication Date:
07-2009
Content Type:
Journal Article
Journal:
The Washington Quarterly
Institution:
Center for Strategic and International Studies
Abstract:
The world economy has experienced a downturn of historical dimensions since the onset of 2009. Almost everywhere, production has declined rapidly, world trade has virtually collapsed, and the recession has spread to all major economic regions. The global financial crisis is the culmination of an exceptional boom in credit growth and leverage in the financial system. Low interest rates, abundant liquidity, and low volatility prompted investors to search for higher yields without an adequate appreciation of related risks. Financial institutions developed new structures and innovative risky instruments to meet investors' demand for higher yields. Investors in turn, overly optimistic about continued rises in asset prices, did not look closely enough into the nature of the assets they bought. They mostly relied on the analysis of credit rating agencies which were, in some cases, also selling advice on how to develop the rated products. This failure of market discipline played a considerable role in the crisis.
Topic:
Financial Crisis
Political Geography:
Germany