Saturday, December 31, 2005



If globalisation continues as America planned in the 1940's and 1950's, the nation will likely decline in economic wellbeing and political influence internationally. Open trade and cross-border flows of capital mean that the rest of the world will prosper.

"American policy in the 1940's and 1950's was directed expressly at the rehabilitation rather than the punishment of defeated nations, as America led the effort to establish world-wide free trade through [GATT, now WTO], and to protect financial stability, including the IMF and the World Bank. It also initiated its own lending programmes such as the Marshall Plan", wrote Bill Emmott in the book '20:21 Vision'.
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