China and a new world economic order

Asia Times – Merely two years before the end of the first decade of the 21st century, the post-Cold-War world economic order found itself facing its most serious crisis under the weight of unsustainable deregulated debt capitalism created by dollar hegemony. There are clear signs that out of this current crisis a new world economic order will emerge. China is in a promising position to influence this development toward a sustainable, balanced and cooperative world order of global fairness and universal justice. The root cause of the current crisis can be traced to the dismantlement of the Bretton Woods international finance architecture by the US in 1971 Read Article

Tags: 2nd Great Depression, Asia, financial system, New World Order