This video is the first session of an eight-week Transnational Institute teaching series called "Fractures." The series aims to analyze the significant shifts in the global order, moving beyond headlines to explore the underlying forces shaping the current geopolitical landscape. The first session focuses on the United States' turn towards reactionary nationalism and its implications for the global order.
The Decline of the Neoliberal Order: The panelists largely agree that the neoliberal global economic order, characterized by free movement of capital and constraints on labor, is breaking down. This breakdown is not solely a US phenomenon but a global one, creating instability.
The Rise of the Far Right: The far right and populist movements have been more adept at navigating the crisis of the political center, exploiting the weakening of left-wing institutions. This is particularly evident in the US, but is a global trend.
US Imperialism's Transformation: Aziz Rana's analysis highlights the evolution of US imperialism, from a regionally focused settler colonial project to a globally dominant hegemon. The current moment represents a potential shift back towards a more explicitly ethno-nationalist and hard power-focused approach, potentially resembling late 19th-century practices.
China's Ascendancy and US-China Competition: Ho-fung Hung discusses China's economic rise and its impact on the geopolitical landscape. The US-China conflict is rooted in economic competition, particularly regarding capital flows and manufacturing.
The Global South's Position: Achin Vanaik emphasizes the complexities of the global south's response to the current geopolitical situation. He cautions against the romanticized view of multipolarity and highlights the limitations of existing groupings like BRICS in representing the interests of the wider global south. He stresses the necessity for progressive national movements as a foundation for broader internationalist action.
The Need for Radicalized Movements: Luciana Viotto underscores the need for radicalized movements focused not just on trade, but also on finance and the power of the dollar, advocating for deprivatization and decommodification to address the issues created by corporate power.
According to Aziz Rana, the American project has undergone a three-stage transformation. Initially (late 19th and early 20th centuries), it was a regionally focused settler colonial project centered on territorial expansion and the exploitation of indigenous and enslaved labor. Following World War II, the US emerged as a global hegemon, promoting narratives of universal principles (equality, liberty) linked to market capitalism and liberal constitutionalism. This involved presenting American interests as globally beneficial, justifying interventions and shaping a rules-based international order with built-in American exceptionalism and power. Finally, the post-Cold War era witnessed a far-right rejection of this mid-century compact, leading to a return to a more explicitly ethno-nationalist, hard-power approach characterized by a disregard for international law and a focus on zero-sum competition. This transformation in domestic understanding of the American project has resulted in a significant break with the mid-century global authority, marked by a defection from international legal constraints and a prioritization of hard power.
