Tag Archive: power shift

Larry Summers Warns US Is Losing Its Global Leadership Role

“This past month may be remembered as the moment the United States lost its role as the underwriter of the global economic system.” —Larry Summers, Harvard professor and past U.S. Treasury Secretary, wrote in an April Washington Post article. The global economic and political power tides are shifting from West to East. China is flexing its economic muscle and the balance of global power scales are beginning to tip in their favor. This month China announced the formation of the Asian Infrastructure Investment Bank (AIIB),... Continue Reading