This chapter focuses on the transition from the Bretton Woods era and the Cold War to one dominated by neo-liberalism and a revived US hegemony. This examination takes in the breakdown of Bretton Woods, the neo-liberal turn from 1982, the relationship between this shift and the ‘transnationalization’ of capital, and the changing strategies of the US state in the context of the global crisis of capitalism in the 1970s. It then moves on to assess this transition, through an examination of theories of the state and restructuring, and the wider geopolitical implications that follow, particularly in the context of the end of the Cold War.
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