| Summary/Abstract |
The winding down of colonial empires in the middle of the twentieth century was greeted by a wave of revolutionary and reformist idealism in the newly liberated countries of the third world. many international agencies and movements rose to address the inequalities and injustices inherited from the old system but a reaction from the dominant former imperial powers managed to block or reverse that evolution and establish a subtler neo-colonial exploitative regime through the mechanism of globalization enforced by the petrodollar reserve currency, major banks and multinational corporations. Today various international associations such as ALBA, ASEAN, and BRICS are developing alternatives to the hegemonic Euro-American order.
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