Global Development Institute 71d ago

Over the past decade, American hegemony switched from the Washington Consensus’ sustained attack on state capacity and developmentalism to the Wall Street Consensus, a state-Big Finance partnership for investible development that shaped the 4th UN conference on Financing for Development in Seville (June 2025). Do the revival of the Monroe Doctrine and Trump’s AI-strategy to revitalize American hegemony - through infrastructure, software and digital finance - mark a fundamental break? What are the new opportunities for transformative states in the Global South? Daniela Gabor is Professor of Economics at SOAS University of London. Video filming and editing by James Mulholland Videography: https://jamesmulholland.co.uk/