ABSTRACT
With the ending of the Cold War, it appeared that the American model of liberal capitalism had triumphed. Former communist states rushed to embrace economic freedom and market-based reforms, whilst technological and transportational developments brought the developing world into an international market which promised global pro sperity. Clinton spoke of a ‘train of globalization’ that ‘cannot be reversed’, pulled by the engine of America’s economic success, which, he believed, would ‘lift hundreds of millions of people out of poverty’ (Clinton, 2000).
