Those who fail to learn from history are doomed to repeat it. Jason Hartman interviews Alfred W. McCoy, Harrington Professor of History at the University of Wisconsin-Madison on his work investigating the changing nature of empires, the kind of world orders they create and projecting this knowledge into the future. McCoy's latest book To Govern the Globe: World Orders and Catastrophic Change, analyzes the rise and fall of empires through their geopolitics.
Can the liberal international order that the United States created during its 70 years as the world's great hegemon survive? Will the rise of China displace the US? China is using the Belt and Road Initiative to break our economic dominance over Eurasia and if that happens, then it is almost as if by natural law, power and profit will flow to Beijing and China will become the epicenter of the global economy. Global accounting firm PricewaterhouseCoopers estimates that by 2030, China's economy will be 50% larger than the US economy.
Jason Hartman and Alfred McCoy also discuss the dollar as the world's reserve currency, China's presence in Africa and the ramifications of climate change producing very serious problems for world order.
Key Takeaways:
Jason's Editorial
1:34 The Russian invasion, Ukraine and the world
14:24 Alternative to the SWIFT banking system
15:13 Safe harbor of the world and isolationist policies
Alfred McCoy Interview
18:09 In 600 years of world history, there have been 90 empires, but only 3 world orders
19:23 All powerful empires have an expiration date
20:13 Will the Chinese regime displace the US? Even with their growing demographic problem?
22:18 What happened when China joined the World Trade Organization?
23:26 To be the global hegemon, you must dominate Eurasia
24:47 Estimates say that by 2030, China's economy will be 50% larger than the US economy
25:45 Nixon in China
27:09 Post Cold War US globalized economy
29:01 Securing a permanent lien on middle eastern oil after the 9/11 attacks
30:38 Renewable and nuclear energy
33:11 China as the world's global hegemon by 2030, will be the most adversely affected by climate change
36:43 Extending the retirement age
39:09 Evolution of the current world order
40:46 Lifting people out of poverty
42:53 China has had serious and sustained economic engagement with Africa for the past 45 years
48:16 Will the dollar retain reserve currency status?
50:56 Climate change refugees and the world order
53:15 Could the world collapse into global disorder?
56:03 Transforming our energy infrastructure into renewable energy
57:34 Potential technology to help us cope with climate change?
59:20 Conclusions from historian and author Alfred McCoy
Get Alfred W. McCoy's Books: https://www.amazon.com/stores/Alfred-W.-McCoy/author/B001HCXSTA?ref=ap_rdr&store_ref=ap_rdr
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