Nation State

SouthViews No. 294, 23 September 2025

Trump and the Return of the Nation-State: Hegemony and Crisis of the Neoliberal Global Order

By Humberto Campodonico

This article examines the deepening crisis of the global economic and trade order established after World War II, a crisis accelerated by Donald Trump’s return to the United States presidency. Trump has adopted a stance openly hostile to neoliberal globalization, promoting instead a project centered on reinforcing the nation-state, employing commercial coercion, and using economic power to preserve US hegemony by neutralizing China. His “reciprocal tariffs” and the “Big Beautiful Bill” illustrate this shift, breaking with the World Trade Organization and consolidating elite power while sharply reducing social spending. Far from correcting the inequities of neoliberal globalization, these measures channel the social dislocations of deindustrialization and the impoverishment of the US Rust Belt into an authoritarian discourse of economic sovereignty.

The article situates this process within the broader crisis of democratic capitalism, marked by declining trust in liberal democracy and the rise of populisms and authoritarian regimes that capitalize on discontent without offering redistributive solutions. The analysis draws on Graham Allison’s “Thucydides Trap” and Carla Norrlöf’s reading of Ibn Khaldun to explain both hegemonic rivalry and internal fragmentation. Finally, it explores alternatives to the failed neoliberal order and argues for opening a collective debate on a new international system in which the Global South must play a role.

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Statement, April 2020

South Centre Statement to the Ministers and Governors Meeting of The Intergovernmental Group of Twenty-Four (G24)

The COVID-19 pandemic is not only a major health calamity with mounting humanitarian costs but also the biggest economic crisis since the Second World War. Immediate debt relief is needed for poor countries with unsustainable debt. The global pandemic requires a global solution and solidarity.

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