POLSCI 2J03 Lecture Notes - Lecture 6: 1997 Asian Financial Crisis, Washington Consensus, Susan Strange
20 Mar 2013
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Essay will be handed back by the exam on wednesday. Governance comes out of critique of liberals: free market allocating resources in the most efficient way possible decreases authority and power will begin to dissipate. Observation on authority and power in global politics: authority just doesn"t disappear as u open up markets. As markets become liberalized, you create more of a power vacuum,. This can be done by international governance susan strange: ex of international institutions trying to emerge in wake of fear of liberalizing markets is the g8 (originally the g6) in 1975. Included france, uk, italy, w german, japan, and us. Decline of us that is bound up with the us going through nixon shocks, greater inclusiveness and return to consensus. Way of gathering international consensus around global order: g7 in 1976. After fall of berlin wall and collapse of soviet union. Focus on economic issues, but also about great power politics.
