A new world order is dawning-one in which the West is no longer dominant, capitalism (at least the American version) is out of favor, and protectionism is on the rise. So argues Roger Altman, Deputy Treasury Secretary under President Bill Clinton and now chairman and CEO of investment banking boutique Evercore Partners, in the July-August issue of Foreign Affairs. "The geopolitical consequences [of the crisis] are now coming into view and they will be profound," writes Altman.
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