Financial Crisis

Geoeconomic Twist, Geopolitical Twist

Author(s): Matthew Hulbert
Editor(s): Daniel Möckli
Series Editor(s): Andreas Wenger, Victor Mauer
Book Title: Strategic Trends 2010: Key Developments in Global Affairs
Series: Strategic Trends
Pages: 27-45
Publisher(s): Center for Security Studies (CSS), ETH Zurich
Publication Year: 2010
Publication Place: Zurich

The financial and economic crisis has been a defining trend of international affairs over the past two years. The West now has huge liabilities from stepping in to save the financial system, and took a further fiscal hit when launching stimulus measures to rekindle economic growth. China adopted similar measures, but has emerged far stronger from the crisis so far. The East's new found geoeconomic clout will take a long time to translate into geopolitical gains, but international institutions have to adapt sooner rather than later to these power shifts.

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