The outbreak of the latest financial crisis, originating in the US and now spreading to other countries, shows that the neo-conservative revolution launched in the 1980s has already come to an end.
without any bailout, the US financial market will implode, bringing the world economy into a serious recession
With no end in sight to the current economic crisis, the U.S. has already notified Japan, Germany and the U.K. to draw out rescue plans to save the troubled banks within their borders, the Washington Post reports. With all of the complicated ties of the worlds banks, the United States governments inability to solve [Read more]
If the United States is no longer hegemonic, or its strength is declining, then who will be willing to pick up the load that the United States is not able or willing to carry?
Based on a report in "East Asia Daily" dated September13th, South Korea is preparing its action plan for dealing with an emergency situation with North Korea. It was reported that important personnel from South Koreas foreign affairs and security areas were visiting the United States last week and consulting with the [Read more]
The decease of the US and Western hegemony will not be caused by the challenge from such rising powers as China or other countries. It will be caused by the world's irreversible efforts for a hegemony-free political structure.
On September 7th, the U.S. Federal Government announced its takeover of Fannie Mae and Freddie Mac, the two financially distressed housing mortgage giants, to avoid the occurrence of a large-scale financial crisis.
The U.S. Treasury move was widely interpreted as the U.S. governments act to save the market. [Read more]