“I believe we’re nearing the end of the free market, not necessarily here at home, but globally.”
That startling statement kicked off the FPA’s final keynote speaker Monday afternoon. Author and geopolitical strategist Ian Bremmer, Ph.D. (left) used his time to argue that currency wars, increasing tariffs and reduced global growth are the future. He attributes his reasoning to the fact that anger over the financial crisis, once turned inward towards each country’s political establishment, is now turning outward.
“We have seen three distinct waves since the onset of the crisis,” Bremmer said. “The first, panic, began in September 2008. The second, in mid-April 2009, began with Larry Summers stating that the recession was over. Well, OK, as the panic subsided the insular political fallout began. The third wave, one in which each country blames external sources, is now beginning.”