Transatlantic Leadership for a New Global Economy

"The Atlantic Council promotes constructive U.S. leadership and engagement in international affairs based on the central role of the Atlantic community in meeting the international challenges of the
21st century.

For many years, the United States and its European partners were the unchallenged global economic leaders. They not only created the major international economic institutions but also represented the bulk of the wealth behind them. But traditional transatlantic economic leadership faces challenges on several fronts. Emerging economies last year for the first time ever surpassed the developed world in the total size of their national products – and they make up the lion’s share of total global growth.

At the same time, globalization has eroded western governments’ control over their own economies, making them increasingly vulnerable to economic forces outside their borders.

The power of “non- state actors” has grown – capital markets, multinationals, hedge funds, and private equity."

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Project for a New American Century Statment of Principles