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The G-20 Since the Global Financial Crisis: Neither Hegemony nor Collectivism

The G-20 Since the Global Financial Crisis: Neither Hegemony nor Collectivism Global Governance 23 (2017), 205–223 The G-20 Since the Global Financial Crisis: Neither Hegemony nor Collectivism Tom Chodor This article analyzes the sources of gridlock in the Group of 20 since the global financial crisis. It engages with this question through Mark Beeson and Stephen Bell’s framework, which identifies two processes of socializa- tion operating concurrently within the G-20: hegemonic incorporation and collectivist cooperation. While hegemonic incorporation seeks to so- cialize the rising Southern powers into the US-led world order, their inclu- sion over time drives the G-20 toward more collective and cooperative forms of global governance. The article argues that the GFC has altered this equation in two ways: by accelerating the shift of economic power from the North to the South, and by undermining the hegemony of ne- oliberalism in the South. These two developments have made the United States less willing to offer the concessions necessary for hegemonic incor- poration while, at the same time, bolstering the confidence of the South- ern powers. Consequently, the article proposes that both hegemonic incorporation and collectivist cooperation are undermined, leading in- stead to gridlock and fragmentation. The article illustrates this argument through a case study of the gridlock surrounding http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Global Governance: A Review of Multilateralism and International Organizations Brill

The G-20 Since the Global Financial Crisis: Neither Hegemony nor Collectivism

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Publisher
Brill
Copyright
Copyright © Koninklijke Brill NV, Leiden, The Netherlands
ISSN
1075-2846
eISSN
1942-6720
DOI
10.1163/19426720-02302005
Publisher site
See Article on Publisher Site

Abstract

Global Governance 23 (2017), 205–223 The G-20 Since the Global Financial Crisis: Neither Hegemony nor Collectivism Tom Chodor This article analyzes the sources of gridlock in the Group of 20 since the global financial crisis. It engages with this question through Mark Beeson and Stephen Bell’s framework, which identifies two processes of socializa- tion operating concurrently within the G-20: hegemonic incorporation and collectivist cooperation. While hegemonic incorporation seeks to so- cialize the rising Southern powers into the US-led world order, their inclu- sion over time drives the G-20 toward more collective and cooperative forms of global governance. The article argues that the GFC has altered this equation in two ways: by accelerating the shift of economic power from the North to the South, and by undermining the hegemony of ne- oliberalism in the South. These two developments have made the United States less willing to offer the concessions necessary for hegemonic incor- poration while, at the same time, bolstering the confidence of the South- ern powers. Consequently, the article proposes that both hegemonic incorporation and collectivist cooperation are undermined, leading in- stead to gridlock and fragmentation. The article illustrates this argument through a case study of the gridlock surrounding

Journal

Global Governance: A Review of Multilateralism and International OrganizationsBrill

Published: Aug 19, 2017

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