We are at the stage (and have been in it since 2008) in which the old school imperial powers are trying to restore the order of neoliberalism, but are increasingly failing to do so. The invasion of Ukraine has just made that even more apparent than it was before. The bank bailouts of 2008 didn’t do much to restore order, sanctions against Russia and China are proving increasingly ineffective, and austerity politics are not steadying the ship as they did in the past. It is impossible to go back now.
We are at the stage (and have been in it since 2008) in which the old school imperial powers are trying to restore the order of neoliberalism, but are increasingly failing to do so. The invasion of Ukraine has just made that even more apparent than it was before. The bank bailouts of 2008 didn’t do much to restore order, sanctions against Russia and China are proving increasingly ineffective, and austerity politics are not steadying the ship as they did in the past. It is impossible to go back now.
This video explains it better than I can