Prospects of a Multipolar World and the Role of Emerging Economies

Description

When we look at economic data on trade and output growth, there seems to be an economic shift gradually taking place from a US-led unipolar world towards a multipolar world. We analyse the long-term trends of capitalist globalisation and the recent globalisation which began in the early 1990s under neoliberal economic policies. It seems that in this context, debate over the ‘decline of the West’ and the ‘rise of the rest’, and the accompanying debate over the historic role of ‘rising powers’, takes on a new meaning. (Amsden, 2001; Hoogvelt, 2001)