The rules of the post-war economic order were premised on U.S. domination and hierarchy. This is the history that Biden is working with and that his new industrial policies repeat, writes Anthony Pahnke.
abound that the rule-based, multilateral global world order is in its death throes as the U.S. has made excluding China principal among its economic policy objectives.
The rules of the post-war economic order were premised on U.S. domination and hierarchy. This is the history that Biden is working with and that his new industrial policies repeat. The institutional pillars of what we consider central to the liberal world order—the International Monetary Fund and World Bank—were created in 1944 at Bretton Woods, New Hampshire, where delegates from 44 countries met to discuss what the world economy should look like after World War II.
Meanwhile, the initial moves concerning economic development in the immediate post-war period came with the Marshall Plan, which ran from 1948 to 1951 and took its name from the U.S. Secretary of State George Marshall.
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