April 19, 2009
Do you know what was great? The Hanseatic League. Do you think we could bring that back, twenty-first century style?:
This diffuse, fractured world will be run more by cities and city-states than countries. Once, Venice and Bruges formed an axis that spurred commercial expansion across Eurasia. Today, just 40 city-regions account for two thirds of the world economy and 90 percent of its innovation. The mighty Hanseatic League, a constellation of well-armed North and Baltic Sea trading hubs in the late Middle Ages, will be reborn as cities such as Hamburg and Dubai form commercial alliances and operate “free zones” across Africa like the ones Dubai Ports World is building. Add in sovereign wealth funds and private military contractors, and you have the agile geopolitical units of a neomedieval world. Even during this global financial crisis, multinational corporations heavily populate the list of the world’s largest economic entities; the commercial diplomacy of emerging-market firms such as China’s Haier and Mexico’s Cemex has already turned North-South relations inside out faster than the nonaligned movement ever did.
Wait — ninety percent of what, exactly? Innovation units?