The Long Shadow of 2008
Abstract
The promise of US-China-centered globalization was that everyone involved would benefit; that there would be multiple winners, but no real losers. China would grow economically, lift hundreds of millions of its citizens out of poverty, become a true industrial power and not a backward, and ideologically supercharged, paper juggernaut as during its Maoist days. The United States would pilot Beijing’s gradual integration within the US-dominated liberal order, co-opting it as a junior partner: a “responsible stakeholder,” in the paternalistic slogan first used in 2005 by the then Deputy Secretary of State Robert Zoellick, sharing an interest in preserving global stability and open markets. [...]