Your Authoritative Source on Singapore Law

Globalisation, the Global Financial Crisis and the Reinvention of the State

John H Farrar & Louise Parsons

(2012) 24 SAcLJ 367

This article analyses the nature of globalisation and how it has been affected by the Global Financial Crisis. It considers the relationship with imperialism and the Washington Consensus. It reflects on events since 2008, the decline of the West, the limits of global governance and the role of the state and central banks. In this changing world, there is a need for greater leadership, co-operation and an adequate voice for emerging economies in international institutions. This presents challenges for conventional wisdom and requires a broad inter-disciplinary approach.