The Rise of Neoliberalism in the World

Larry Summers recently gave an interview in which he said that unemployment needs to rise maybe to 10%. So Paul Voker is being rehabilitated right now as we speak. And you see people like Larry Summers, this neoliberal poster boy, who wrote a by the way, when he was head of the World Bank economist. The bricks countries as a block now represent a larger share of the global economy when GDP is measured by PPP than the G7 does. That is a massive world historic shift, and that's largely because of China's economic growth.