The Fallacy of Globalism and the Protection of National Economies

Abstract

The collapse of the Soviet Union has left the United States as the sole superpower today, with military resources greater than the combined forces of all of Western Europe, China, Japan, and Russia, capable of dispatching aircraft carriers to anywhere on the seven seas and of deploying troops to any land of the planet. In addition to holding sway over the political economies of a large number of states, the United States also exerts considerable influence through international finance institutions (IFIs) such as the International Monetary Fund (IMF) and the World Bank, and international regulatory bodies such as the World Trade Organization (WTO).