Is Washington Consensus dead?

  • Washington Consensus, the 1990s notion that globalisation (especially in the post cold-war world) would lead to closer international political cohesion is not quite dead, but it's being pushed back.
  • National priorities seem to be more on-trend, with capital markets convergence quashed by the 2008 crisis, cyberspace being increasingly regulated, and trade multilateralism being replaced by regional agreements and bilateralism.
  • Bretton Woods institutions (World Bank & IMF) losing relevance as US lethargic and China ambivalent towards them.
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