Dilemmas of Domination

Walden Bello is the founding director of Focus on the Global South, a policy research institute based in Bangkok, Thailand. Currently, he is, inter alia, professor of sociology and public administration at the University of the Philippines.

• Introduction: A Southern Perspective on the Crisis of EmpireCrises of Global CapitalismCentral ConflictsPlan of the Book1. The Road to BaghdadUnilateralism versus Multilateralism: A Useful Distinction?Grand Strategies in U.S. Foreign PolicyBush II and Rollback-Plus2. Imperial Hubris/Imperial OverextensionStretched ThinIraq: The Reasons WhyIraq: An Imperial Expedition UnravelsAfghanistan: An Ephemeral VictoryStrategic Setback for Tel Aviv and WashingtonAdvantage Al QaedaThe End of the Atlantic AllianceBackyard RebellionCredibility GapRoman Ruminations3. Contemporary Capitalism's Classic CrisisStagnation Sets InFrom Weak to Strong DollarNeoliberal Reform Guts Global DemandExcess Capacity and Coerced CompetitionFinance-Driven GrowthCapitalism and CorruptionThe Bush Recession and the Return of the Weak DollarThe Chinese ConundrumEnd of the Long Wave?4. The Ascendancy of FinanceSpeculation and Global CapitalismThe Liberation of Finance CapitalKey Features of Contemporary Finance CapitalGlobalization's Volatile EngineFinance Capital Targets the SouthSpeculative Crises: Three Case StudiesThe Era of Financial Ascendancy: An Assessment5. The Economics of Anti-developmentCompleting the Multilateral SystemChallenge from the SouthRolling Back the SouthWhy the WTO?The WTO and the South: A Case Study6. The South Rises and the North PrevailsRevolt in SeattleRecovery in DohaCollapse in CancunCrisis of Legitimacy of the Bretton Woods SystemReform: Promise versus Reality7. George W. Bush and Rollback EconomicsRetreat from GlobalizationKey Economic Policy ThrustsVendetta Diplomacy and Its LimitsTactical Shift8. Crisis of LegitimacyThe Philippine ParadigmContainment and the Democratic MissionSupporting Repressive RegimesDestabilizing the New DemocraciesThe Crisis of American DemocracyThe Crisis of the Liberal OrderAbu Ghraib and the End of the Moral Mission9. Conclusion: The Way ForwardDecline and OpportunityThe Economics of Imperial DeclineThe Ideological DilemmaContinuing OverstretchNotesIndex

'With unsentimental clarity, Walden Bello speaks the truth about American empire and why it is doomed by its own contradictions.' William Greidner, author of The Soul of Capitalism 'Walden Bello is the world's best guide to American exploitation of the globe's poor and defenceless -- and the false concepts the U.S. government uses to camouflage it actions. He directly challenges the propaganda and the policies of the Washington establishment with an analysis that is both original and persuasive.' Chalmers Johnson, author of The Sorrows of Empire 'Dilemmas of Domination show again why Walden Bello is recognized as one of the leading global analysts of the U.S. drive toward empire. His critique of the Afghan and Iraq wars probes the dangers of the Bush administration's militarism yet recognizes the potential of the growing peace movement . His dissection of the Asian dimension is particularly comprehensive and welcome. And, rooting American bellicosity in the corporate-driven trajectory of globalization, Bello's economic analysis remains among the most prescient. A must-read for scholars, activists and global citizens.' Phyllis Bennis, author of Before & After: U.S. Foreign Policy and the September 11 Crisis