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The Great Crash, 2008

A Geopolitical Setback for the West

Author: Roger C. Altman, Chairman, Evercore Partners, Inc.
January/February 2009
Foreign Affairs


The economic collapse of 2008, the worst in over 75 years, is a major geopolitical setback for the West. It has stripped Washington and European governments of the resources and credibility they need to maintain their roles in global affairs. These weaknesses will eventually be repaired, but in the meantime they will accelerate trends that are shifting the world's center of gravity away from the United States.

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