Ian Bremmer – The End of the Global Free Market

The U.S. is no longer fit to lead in global governance and that is driving a change in the world order. As a result, the coming decade will be vastly more unstable, according to Ian Bremmer.

Bremmer is the president and founder of Eurasia Group, a leading global political risk research and consulting firm. He spoke at a luncheon for the Boston Committee on Foreign Relations luncheon on November 14.

“No one should think we live in a global free market anymore,” according to Bremmer.

“I’m not talking about the United States,” he said, “I’m talking about the fact that the most influential economic strategy globally is not a free market economy.”

I will go over Bremmer’s comments about what is right in the world and his predictions about how the global economy will change in the coming decade.

Changing global order

“In my life there have been two speeches that made you rethink the global order,” Bremmer said.

“The first, and of course most important, was when Gorbachev declared the dissolution of the Soviet Union in 1991,” according to Bremmer.

“The second, and it’s early to say this but I’m going to go out on a limb, was Xi Jinping two weeks ago,” he said.

According to Bremmer, that speech was about China’s leadership stating that it is “prepared to publicly say we are going to become a global superpower and we’re going to start taking the leadership role.”

Xi’s speech wasn’t momentous in the United States, but having spent the past two weeks traveling across Asia, Bremmer said it was the main topic of conversation amongst global leaders. “They were talking about the rise of China,” he said.

“They were talking about the strongest leader that the Chinese have had since Mao [Zedong],” according to Bremmer. “While, at the same time, the Americans have the weakest leader in their modern history.”