The neoliberal utopia that was promised in the 1990s never materialized, as free markets, deregulation, and global capital mobility led to severe economic crises and societal discontent.
The collapse of the unipolar order, which George HW Bush celebrated post-Gulf War, signifies that American supremacy is increasingly challenged by powerful rising economies like China.
The global financial crisis of 2008 unveiled the vulnerabilities of a system that prioritized free-market principles without sufficient regulatory oversight, leading to calls for renewed state intervention.
As America approaches the polls, it confronts not only its position as the largest economy but also the disillusionment of voters towards globalization and its effects on local economies.
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