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From the Rubble: The Post-Crisis Order

Daniel McDowell, Thomas Renard | World Politics Review | 2009-04-14

The global economic crisis is forcing governments to balance the need for coordinated action with national interests. The resulting tension between cooperation and competition will determine the contours of the global order that emerges in the aftermath. The consequences of the economic crisis are far-reaching and myriad -- from U.S. soft power and European unity, to military budgets and domestic politics, almost no dimension of international politics is unaffected. Ultimately, the crisis may accelerate the transition towards a more multipolar, more chaotic global order. Meanwhile, the international economic systems and institutions that were created in the wake of the last worldwide economic crisis are struggling to adapt to new realities. For the International Monetary Fund, that means both the danger of new regional competitors and the opportunity of renewed relevance.

The Coming Order: Stategic and Geopolitical Impacts of the Economic Crisis
By Thomas Renard
The current financial crisis is likely to further reshuffle the deck in the competition for global power. Just what that new order will look like is difficult to foresee. But a closer look at the impact of the crisis on military, economic and other less tangible forms of power can offer some ideas about the possible range of strategic and geopolitical outcomes.

A Crowded Field: The Financial Crisis and Global Governance
By Daniel McDowell
Amid the most severe crisis the world economy has seen in nearly a century, the International Monetary Fund finds itself between danger and opportunity: Danger lurks in emergent alternatives to the fund; opportunity lies in reform. Despite its renewed relevance, it is far from certain that the fund will continue to fulfill its role unchallenged.

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