Rise and fall of US-led neocolonial financial order: From Bretton Woods to BRICS
Posted on June 16th, 2023

Geopolitical Economy Report

Ben Norton discusses the rise and fall of US-led neocolonial financial order, from the 1944 Bretton Woods conference that established the US dollar as the global reserve currency; to the 1971 Nixon Shock that ended the gold standard, Volcker Shock, Third World debt crisis, and emergence of neoliberalism; and finally to the historic growth of China and consolidation of the Global South-led BRICS bloc.

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