Challenges
A qualitative transformation in the nature of global capitalism was discernable in the
1990’s. The multinational corporations became increasingly disconnected from the ‘real
economy’ and became truly global. The transport and communications revolution gestating
through the 1970’s and 1980’s greatly speeded up trade and all economic transactions. Of course
the removal of the alternative economic model of state socialism and the exhaustion of the
national economic development model in the South cleared the way for the one true economic
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model of neo-liberal globalization to become the new common sense of the epoch.