With his usual verve and sharpness Samir Amin examines the factors that brought about the 2008 financial collapse and explores the systemic crisis of capitalism after two decades of neoliberal globalisation. He traces the origins of the crisis to the 1970s and lays bare the relationship between dominating oligopolies and the globalisation of the world economy, which allowed those oligopolies to have exclusive calls on the world's natural resources and to sweep aside any resistance. The decisions of the recent G20 meetings, where the Chinese President Hu Jintao observed that it would be necessary to envisage the creation of a global financial system that is not based on the US dollar, demonstrate the threat to the plutocracies of the US, Europe and Japan. Amin examines the attempts by these powers to get back to the pre-2008 system, and to impose their domination on the peoples of the South through intensifying military intervention by using institutions such as NATO. He also looks at an alternative strategy that would, building on the advances made by progressive forces in Latin America, allow for a more humane society through forces in both the North and in the South working together.
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