The World after the West

These days, there seems to exist a fairly large consensus among intellectuals of all persuasions and fields of interest concerning the economic future of the world. The West will further decline in economic weight, and its political and military leverage will decline accordingly. The future belongs to the emerging markets, the BRICS, or, in short, to the “rest” that was left behind when the industrial revolution took off in Europe and the United States. This vision of the future fits in perfectly with a growing body of historical literature pointing out that the rise of the West was largely accidental, and was mainly due to the convenient location of natural resources which were discovered at the right time, and other economic coincidences of the sort.  The twenty-first century, so it seems, will witness the reestablishment of traditional economic relationships in the world, namely, the return of the hegemony of the great Asian powers, China and India. In fact,...(Read Full Article)