Crisis of globalisation and imperialist structures

Hansjörg Herr
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Hansjörg Herr: N/A

European Journal of Economics and Economic Policies: Intervention, 2025, vol. 22, issue 2, 223-238

Abstract: The aim of the article is to show that although most countries in the Global South have been able to reduce absolute poverty, with a few exceptions they have not succeeded in catching up with the countries of the Global North. The conclusion of the article is that, especially after the neoliberal revolution in the 1980s, exploitative structures between developed and less developed countries have intensified, which in several dimensions resemble imperialism before World War I. The expansion of global value chains and foreign direct investment from the 1990s onwards has done nothing to change this. This result is explained by various theoretical approaches – absolute and comparative cost advantages, increasing economies of scale and global value chains. Only comprehensive industrial policy and ultimately an alternative model of globalisation can change the current crisis of globalisation.

Keywords: globalisation; underdevelopment; trade theory; global value chains; foreign direct investment; imperialism (search for similar items in EconPapers)
JEL-codes: B1 F60 O11 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:elg:ejeepi:v:22:y:2025:i:2:p223-238

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