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da hegemonia norte-americanaɲ
Maria da Conceição Tavares
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Introdução
$VFULVHVTXHLQVWDELOL]DUDPDHFRQRPLDPXQGLDOQDGpFDGDGHɲɺɸɱIRUDP
VHJXLGDVGHGRLVPRYLPHQWRVGHUHD¿UPDomRGDKHJHPRQLDDPHULFDQDQRSOD-
QRJHRHFRQ{PLFR GLSORPDFLDGRGyODU HQRSODQRJHRSROtWLFR GLSORPDFLDGDV
DUPDV  TXH PRGL¿FDUDP SURIXQGDPHQWH R IXQFLRQDPHQWR H D KLHUDUTXLD GDV
UHODo}HVLQWHUQDFLRQDLVDSDUWLUGRFRPHoRGDGpFDGDGHɲɺɹɱ$VFRQVHTXrQFLDV
dos desajustes provocados pela política norte-americana ainda não terminaram
HVHXVHIHLWRVJOREDLVQmRSRGHPVHUDLQGDLQWHLUDPHQWHDYDOLDGRVTXHUGRSRQ-
WRGHYLVWDGDLQDXJXUDomRGHXPDQRYDGLYLVmRLQWHUQDFLRQDOGRWUDEDOKRTXHU
mesmo de uma trajetória provável da economia mundial nas décadas à frente.
'RSRQWRGHYLVWDJHRHFRQ{PLFRHQWUHRVPDLVLPSRUWDQWHVFRQWDPVH
RVVHJXLQWHVIDWRVDJOREDOL]DomR¿QDQFHLUDHVWUHLWDPHQWHOLJDGDjGLSORPD-
FLDGRGyODUDDSDULomRGR-DSmRFRPRSRWrQFLDWHFQROyJLFD¿QDQFHLUDHFR-
PHUFLDOGHSULPHLUDJUDQGH]DTXHDWpDVFULVHVGDGpFDGDGHɲɺɺɱDSDUHFLD
FRPRR~QLFRGHVD¿RHFRQ{PLFRjSUHSRQGHUkQFLDDPHULFDQDDLQWHJUDomR
GRHVSDoRHXURSHXFRPSUHWHQV}HVDWRUQDUVHXPEORFRHFRQ{PLFRFDSD]GH
DXWRQRPL]DUVHGLDQWHGDKHJHPRQLDGRV(VWDGRV8QLGRVDSUySULDWUDQVQD-
FLRQDOL]DomRGRHVSDoRHFRQ{PLFRQDFLRQDOQRUWHDPHULFDQRTXHIRLRPR-
WRUFHQWUDOGRPRYLPHQWRJOREDOL]DQWHTXHFRQGX]LXHP~OWLPDLQVWkQFLDj
WUDQVQDFLRQDOL]DomRSURJUHVVLYDGDÈVLD)LQDOPHQWHSDUDRVSDtVHVSHULIpUL-
FRVIRUDGDÈVLDUHJLVWUDVHXPSURFHVVRGHFUHVFHQWHVXEPLVVmRjQRYDRU-
GHPJOREDOPDUFDGRSHODUHJUHVVmRLQGXVWULDOHSHORGHVHTXLOtEULR¿QDQFHLUR
HVWUXWXUDOSRQWXDGRSRUFULVHVIUHTXHQWHVHPSDUWLFXODUSDUDRVVXODPHULFD-
QRVHRVGR/HVWHHXURSHX±FRPRYLUWXDOHVWLOKDoDPHQWRGDÈIULFD

ɲ ([WUDtGRGROLYUR7$9$5(60DULDGD&RQFHLomRH),25,-RVp/XLV RUJV 3RGHUHGLQKHL-


URXPDHFRQRPLDSROtWLFDGDJOREDOL]DomRɳHG3HWUySROLV(GLWRUD9R]HVɲɺɺɸSɶɶɹɷ
236 Maria da Conceição Tavares: vida, ideias, teorias e políticas

'RSRQWRGHYLVWDJHRSROtWLFRDSDUWLUGDGHUURWDGDH[8566HGRGHVPRQWH
da velha “ordem bipolar”, criou-se uma situação de instabilidade estrutural em
TXHDWHQGrQFLDDXPDKLHUDUTXL]DomRGRSRGHUSROtWLFRLQWHUQDFLRQDOFHQWUDOL-
]DGDQDSRWrQFLDKHJHP{QLFD±DSHVDUGHQmRKDYHUFRQVROLGDGRXPGRPtQLR
(imperium TXHJDUDQWLVVHDVXSUHVVmRGRVFRQÀLWRVLQWHUQDFLRQDLVSHORH[HU-
cício de uma gendarmerieJOREDOSHUPDQHQWH±OLPLWDGHFLVLYDPHQWHDH¿FiFLD
GRV(VWDGRV1DFLRQDLVFRPRDJHQWHVGHSRGHUVREHUDQRFRPSURPHWHQGRLQ-
FOXVLYHVXDFDSDFLGDGHGHUHJXODomRHFRQ{PLFDHSURWHomRVRFLDO1DSHULIHULD
GRVGRLVH[³VXEVLVWHPDV´ RVFKDPDGRV³EORFRRFLGHQWDO´H³EORFRVRFLDOLVWD´ 
RFRUUHUDPSURIXQGDVPXGDQoDVSROtWLFDVTXHDLQGDHVWmRHPFXUVR$RVDYDQ-
oRV KDYLGRV HP GLUHomR j GHPRFUDFLD IRUPDO ± EDVWDQWH GtVSDUHV HP JUDX H
DOFDQFH±FRQWUDS}HVHDJUDYHHJHQHUDOL]DGDGHWHULRUDomRGRVSDGU}HVGHYLGD
GDVFDPDGDVVXEDOWHUQDVGDSRSXODomR±MiKRMHDWLQJLQGRDVFODVVHVPpGLDV±H
DPDUJLQDOL]DomRVRFLDOFUHVFHQWHGHFRQWLQJHQWHVKXPDQRVJLJDQWHVFRVHPWR-
GRVRVFRQWLQHQWHVH[FHWXDQGRVHRDVLiWLFR7DLVHIHLWRVSHUQLFLRVRVGHFRUUHP
HPODUJDPHGLGDGDVSROtWLFDVGHDMXVWHQHROLEHUDOHVmRDWXDOPHQWHREVHUYiYHLV
HPSDtVHVGRVDQWLJRVSULPHLURVHJXQGRHWHUFHLURPXQGRV
&ODUDPHQWHHQWmRDVLQLFLDWLYDVGD³GLSORPDFLDGRGyODU´GH9ROFNHUGH
FDUiWHU SUHSRQGHUDQWHPHQWH HFRQ{PLFR GHVWLQDYDPVH D HQTXDGUDU RV Vy-
cios e principais competidores no mundo capitalista. Por seu turno, as ini-
ciativas da “diplomacia das armas” (notadamente a corrida armamentista e
RSURJUDPD³JXHUUDQDVHVWUHODV´ GH5HDJDQGHFXQKRHVWUDWpJLFRPLOLWDU
YLVDYDPDPLQDUSRUGHQWURDVIRUoDVGRSULQFLSDODGYHUViULRJHRSROtWLFR
&RQTXDQWRDPERVRVPRYLPHQWRVKDMDPVLGRLPSUHVFLQGtYHLVDRHVIRUoR
GHUHWRPDGDGHVXDSRVLomRKHJHP{QLFDSRUSDUWHGRV(VWDGRV8QLGRVRSUH-
VHQWHWH[WRWRPDUiSRUREMHWRSULPRUGLDOPHQWHRSODQRJHRHFRQ{PLFRSUR-
FXUDQGR H[SOLFLWDU D QDWXUH]D GDV SROtWLFDV GH JOREDOL]DomR LPSOHPHQWDGDV
GHIRUPDVLVWHPiWLFDPHGLDQWHRDSRLRHDSUHVVmRGDSRWrQFLDKHJHP{QLFD
HPSUROGDFUHVFHQWHOLEHUDOL]DomRGRVPRYLPHQWRVGHFDSLWDO(VWHPRYLPHQ-
WRGH³JOREDOL]DomR´¿QDQFHLUDWHPEHQH¿FLDGRVREUHWXGRRV(VWDGRV8QLGRV
TXHKiɲɸDQRVpRPDLRUUHFHSWRUGHFDSLWDLVGRPXQGR
1HVWHVHQWLGRDFRQFHQWUDomRGHSRGHUSROtWLFRH¿QDQFHLURH[LVWHQWHQR
mundo contemporâneo não é o resultado espontâneo do aumento da com-
SHWLomRHGDH¿FLrQFLDGRV³PHUFDGRVJOREDOL]DGRV´PDVGHXPDSROtWLFDGH-
OLEHUDGDGHUHWRPDGDGDKHJHPRQLDPXQGLDODSDUWLUGDGpFDGDGHVHWHQWD
TXDQGRDSRWrQFLDQRUWHDPHULFDQDSDUHFLDHQWUDUHPGHFDGrQFLD1RSODQR
Hildete Pereira de Melo (Org.) 237

GR3RGHUHGR'LQKHLURRV(VWDGRV8QLGRVFRPDQGDPKRMHXP³MRJRJOREDO´
TXHWHQWDVREUHSRURVFRQFHLWRVGH³RUGHPXQLSRODUHGHHFRQRPLDPXQGLDO´
PDVFXMDFRQYHUJrQFLDHVWiORQJHGHFRQVROLGDUVHHGHVHUEHQp¿FDHLQFOX-
dente para a maioria dos países do mundo.

A diplomacia do dólar
Periodização e fatos estilizados

• 3HUtRGRɲɺɸɺɲɺɹɶ
±'yODUIRUWHDSROtWLFD9ROFNHUGHFKRTXHGHMXURVHPVHWHPEURGHɲɺɸɺ
VHJXHVHLPHGLDWDPHQWHDRVHJXQGRFKRTXHGRSHWUyOHRHFRPELQDGDjSROt-
WLFDPRQHWiULDUHVWULWLYDVXEVHTXHQWHSURYRFDYLROHQWDYDORUL]DomRGRGyODU
IRUoDQGRGHVYDORUL]Do}HVVXFHVVLYDVGHWRGDVDVPRHGDVLQWHUQDFLRQDLVUHOH-
vantes frente à moeda americana;
±-XURVDOWRVHDJHQHUDOL]DomRGHSROtWLFDVGHDMXVWHPDFURHFRQ{PLFRGH
FRUWHGHÀDFLRQLVWDGHÀDJUDPIRUWHUHFHVVmRPXQGLDODWpɲɺɹɴSURYRFDQGRD
TXHGDGRVSUHoRVGDVcommodities e a deterioração dos termos de troca dos
SDtVHVH[SRUWDGRUHVGHPDWpULDVSULPDVTXHDIHWDPSULQFLSDOPHQWHRVFRQ-
tinentes americano e africano;
±'tYLGDH[WHUQDGR7HUFHLUR0XQGRGREUDHPSRXFRVDQRVHSURYRFDFUL-
VHVEDQFiULDVHFDPELDLVHPWUrVFRQWLQHQWHVFRPHoDQGRSHOD3RO{QLD EDQ-
FRVDOHPmHV HVWHQGHQGRVHj$PpULFD/DWLQD EDQFRVDPHULFDQRVLQJOHVHVH
ORFDLV RQGH&KLOHH0p[LFRIRUDPRVPDLVQRWyULRVH[HPSORVGHHVWDWL]DomR
GDEDQFDHDWLQJLQGRDLQGDTXHHPPHQRUJUDXDÈVLD±QD&RUHLDIRLQHFHV-
ViULRSULYDWL]DURVEDQFRVS~EOLFRVHHQWUHJiORVDRVJUDQGHVFRQJORPHUDGRV
GHYHGRUHV2VEDQFRVDPHULFDQRVVmRIRUWHPHQWHDWLQJLGRVHPIXQomRGDHOH-
YDGDH[SRVLomRDTXHHVWmRVXMHLWRVSRUVLQGLFDUHPDVRSHUDo}HVGHHPSUpVWL-
PRVH[WHUQRVQD&LW\GH/RQGUHV
±$SROtWLFDGHSURWHomRDRVLVWHPD¿QDQFHLURQRUWHDPHULFDQRH[HFXWDGD
SRU5HDJDQ ɲɺɹɲɲɺɹɵ SHUPLWHRDMXVWHHDUHFRPSRVLomRSDWULPRQLDOGRV
EDQFRVHIXQGRVGHSHQVmRDPHULFDQRVDEDODGRVSHORFKRTXHGHMXURVFRPR
VXSRUWHGR7HVRXURGRV(VWDGRV8QLGRV0XOWLSOLFDPVHDVLQRYDo}HVGHLQV-
WUXPHQWRV¿QDQFHLURVHFRPHoDDH[SDQVmRGRVGHULYDWLYRVFRPRPHFDQLVPR
GHVHFXULWL]DomRGRVSDVVLYRVGHPpGLRHORQJRSUD]RQRPHUFDGR¿QDQFHLUR
DPHULFDQRSDUDOLVDGRSHORFKRTXHGHMXURV2SURFHVVRLQLFLRXVHSHORPHU-
238 Maria da Conceição Tavares: vida, ideias, teorias e políticas

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os mercados futuros de câmbio;
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PRQHWiULRH¿QDQFHLURGH:DOO6WUHHW MiGHVUHJXODGRGHVGHRSULPHLURFKRTXH
GRSHWUyOHRHGR³6PLWKVRQLDQ$JUHHPHQW´ɲɺɸɴɲɺɸɵ ³FRQYHUWHVH´HPGtYL-
GDH[WHUQDSRUYLDGHVXDDEVRUomRSRUSRXSDGRUHVHVWUDQJHLURVHPSDUWLFXODU
QRVSRUWDIyOLRVGRVEDQFRVLQWHUQDFLRQDLVDSDUWLUGDIRUWHYDORUL]DomRGRGyODU
±1DHVWHLUDGDPRUDWyULDPH[LFDQD ɲɺɹɳ HGDVXEVHTXHQWHFULVHGHOL-
TXLGH]LQWHUQDFLRQDOTXHDWLQJHWRGRRFRQWLQHQWHWrPOXJDUGHVYDORUL]Do}HV
FDPELDLV IRUoDGDV QD $PpULFD /DWLQD FRP R LQWXLWR GH SURGX]LU VXSHUiYLWV
FRPHUFLDLVHVHUYLUSDUFLDOPHQWHSDUDRSDJDPHQWRGRVMXURVGDGtYLGDH[WHU-
QDFRPRFRQGLomRGHVREUHYLYrQFLDGRVJUDQGHVEDQFRVDPHULFDQRVTXHDR
FRQWUiULRGHVHXVFRQJrQHUHVLQWHUQDFLRQDLVDFKDPVHLPSHGLGRVGHHIHWXDU
o ZULWHRɣGDGtYLGDSRUIRUoDGDOHJLVODomREDQFiULDGRV(VWDGRV8QLGRV
±$SROtWLFDGHUHFXSHUDomRQRUWHDPHULFDQDFRPDEHUWXUDFRPHUFLDOVHUYH
GHORFRPRWLYDSDUDDPDLRULDGRVSDtVHVGD2&'(HHPSDUWLFXODUSDUDDÈVLD
±6XUJLPHQWRGDVSUDoDV¿QDQFHLUDVDXW{QRPDVDVLiWLFDVWUDQVDFLRQDQGR
VLPXOWDQHDPHQWHHPGyODUHLHQHDSRLDGDVLQLFLDOPHQWHQRVFDSLWDLVHPLJUD-
GRVGHSURFHGrQFLDFKLQHVDHDOLPHQWDGDVSHORPRYLPHQWRGHH[SDQVmRGDV
trading companies japonesas.

• 3HUtRGRɲɺɹɶɲɺɹɺ
± 'HVYDORUL]DomR GR GyODU IRUoDGD SHOD GHFLVmR SROtWLFD GR )HGHUDO
5HVHUYH%RDUG )(' WUDGX]LGDQDFRRUGHQDomRGDVSROtWLFDVPDFURHFRQ{PL-
FDVGR*ɸVRERFRPDQGRGRV(VWDGRV8QLGRV±DFRUGRVGR3OD]D VHWHPEUR
GHɲɺɹɶ HGR/RXYUH IHYHUHLURGHɲɺɹɸ 2EDQFRFHQWUDODOHPmRDVVXPHD
coordenação das políticas cambiais europeias tendo em vista a ampliação do
6LVWHPD0RQHWiULR(XURSHX 60( QDGLUHomRGHXPDPRHGD~QLFD
±'HVUHJXODomRGRVSULQFLSDLVPHUFDGRVGHFDSLWDLVLQLFLDGDFRPDCity
londrina (“Big Bang´HPɳɸɲɱɲɺɹɷ pVHJXLGDSRUVXFHVVmRGHFULVHVFR-
PHoDQGRSHODEROVDGH1RYD<RUN ɲɺɲɱɲɺɹɸ DWLQJLQGRRVPHUFDGRVLPR-
ELOLiULRV ɲɺɹɺ H¿QDOPHQWHD%ROVDGH7yTXLR MDQHLURGHɲɺɺɱ 
±'HVHQYROYLPHQWRYHOR]GHQRYRVLQVWUXPHQWRV¿QDQFHLURVQRVPHUFD-
GRVVHFXQGiULRVHJHQHUDOL]DomRGDVRSHUDo}HVGHVHFXULWL]DomRTXHDEUDQ-
JHPGHVGHVLWXDo}HVGHHQGLYLGDPHQWRH[WHUQRGHSDtVHVSHULIpULFRVDWpPHU-
cados de commodities MXURV H FkPELR DOpP GH RXWUDV RSHUDo}HV GH ULVFR
Hildete Pereira de Melo (Org.) 239

(PUHVSRVWDjFULDomRGHPHUFDGRVDWHUPRQRV(VWDGRV8QLGRV 1RYD<RUN
H &KLFDJR  H HP /RQGUHV ɲɺɹɳ  R -DSmR ɲɺɹɶ  H D )UDQoD 0DWLI ɲɺɹɷ 
FULDPPHUFDGRVDQiORJRV$OLEHUDOL]DomRLQGX]LGDGRVSULQFLSDLVPHUFDGRV
¿QDQFHLURV LQWHUQDFLRQDLV DWLQJH LQFOXVLYH SDtVHV FRP PHUFDGRV GH FkPELR
FRQWURODGRV)UDQoDH-DSmRDSyVɲɺɹɹ
± 'LDQWH GD IRUWH GHVYDORUL]DomR GR GyODU H EDL[D GD WD[D GH MXURV RV
WtWXORVGDGtYLGDS~EOLFDDPHULFDQDGHL[DPGHVHUYLUFRPRDWLYRVGHUHQWD-
ELOLGDGHSULPiULDSDVVDQGRDVHUXWLOL]DGRVSDUDODVWUHDURPRYLPHQWRGH
VHFXULWL]DomRJHQHUDOL]DGDTXHVHGHVHQYROYHYHUWLJLQRVDPHQWHDSyVɲɺɹɶ
VREUHWXGR GHSRLV GDV SROtWLFDV GH OLEHUDOL]DomR GRV PHUFDGRV ¿QDQFHLURV
HXURSHXVHMDSRQrVɳ
±$FRRUGHQDomRGDVSROtWLFDVPDFURHFRQ{PLFDVGHÀDFLRQLVWDVQD(XURSD
DRIRUWDOHFHUDVPRHGDVHXURSHLDVTXHVHDOLQKDPFRPRPDUFRIDYRUHFHRFR-
PpUFLRLQWUDHXURSHX±FRPJDQKRHVSHFLDOSDUDD$OHPDQKD±PDVSUHMXGLFD
a competitividade para fora do continente;
± 2V EDQFRV MDSRQHVHV JUDQGHV GHWHQWRUHV GH GtYLGD S~EOLFD DPHUL-
FDQD VRIUHP SHUGDV SDWULPRQLDLV FRQVLGHUiYHLV FRP D GHVYDORUL]DomR GR
GyODU HQWUH ɲɺɹɶɲɺɹɸ 2 -DSmR UHVLVWH FRPHUFLDOPHQWH j YDORUL]DomR GR
LHQHDWUDYpVGDGLPLQXLomRGDVPDUJHQVLQWHUQDVGHOXFURGDVVXDVHPSUH-
VDVSDUDPDQWHUDFRPSHWLWLYLGDGHHPGyODU$FHLWDWDPEpPDJOREDOL]DomR
SURGXWLYDH¿QDQFHLUDFRPRSURSRVWDHVWUDWpJLFDHpQHVVHFRQWH[WRTXHVH
LQVHUHPRVPRYLPHQWRVHQWmRLQLFLDGRVGHUHORFDOL]DomRGDV¿UPDVMDSR-
QHVDVGHGHVUHJXODomRGRPHUFDGR¿QDQFHLURGH7yTXLRHDSURYHLWDQGRR
LHQHIRUWHGHDTXLVLo}HVSDUDYDORUL]DomRSDWULPRQLDOQRV(VWDGRV8QLGRV
QD(XURSDHQDSUySULDÈVLD

ɳ 2DXPHQWRH[SORVLYRGRVÀX[RV¿QDQFHLURVLQWHUQDFLRQDLVQmRPDLVJXDUGDXPDSURSRU-
cionalidade com as necessidades da economia mundial (La mondialisation du Capital, F.
&KHVQDLVɲɺɺɶ GHPRGRTXHDUHODomRGRLQFUHPHQWRQHVVHVÀX[RVFRPR¿QDQFLDPHQ-
WR GR FRPpUFLR H[WHULRU H GRV LQYHVWLPHQWRV SURGXWLYRV SDVVD D VHU LQGLUHWD SDUD GL]HU-
VH R PtQLPR 6HJXQGR %LVLJQDQR Internationalization of Financial Markets, ,0) 6WDɣ
(VWLPDWHV RYROXPHGHWUDQVDo}HVWUDQVQDFLRQDLVGRV(VWDGRV8QLGRVFRPWtWXORV¿QDQ-
FHLURVTXHHPɲɺɹɱUHSUHVHQWDɺɴGR3,%DPHULFDQRSDVVDDHTXLYDOHUDɲɱɺɵGHVHX
3,%HPɲɺɺɳ-DSmRH$OHPDQKDHYROXHPGHIRUPDVLPLODUPHQWHYHUWLJLQRVDFRPYROXPHV
GHRSHUDo}HV¿QDQFHLUDVLQWHUQDFLRQDLVFRPWtWXORVSDVVDQGRGHɸHɸɶGHVHXVUHVSHF-
WLYRV3,%VHPɲɺɹɱSDUDɸɱHɺɲɳHPɲɺɺɳ$PDLRUDODYDQFDJHPFRPRVHULDGHVH
HVSHUDUpDGR5HLQR8QLGRTXHMiHPɲɺɹɱUHDOL]DYDWUDQVDo}HVFRPWtWXORVLQWHUQDFLRQDLV
HTXLYDOHQWHVDɳɷɷGHVHX3,%HDWLQJHDHVSDQWRVDFLIUDGHɲɱɲɶɹHPɲɺɺɳ
240 Maria da Conceição Tavares: vida, ideias, teorias e políticas

• 3HUtRGRɲɺɹɺɲɺɺɷ
± 'HVHVWUXWXUDomR GD 8566 H GRV SDtVHV GH VXD HVIHUD GH LQÀXrQFLD
5HXQL¿FDomRDOHPmFRPDOWRVFXVWRV¿VFDLVHUHIRUPDPRQHWiULDGRPDUFRFRP
FRQYHUVmRSDULWiULDGRDQWLJRöstmarkFRQWUDULDPHQWHjSRVLomRGR%XQGHVEDQN
±$SROtWLFDPRQHWiULDQRUWHDPHULFDQDpDIURX[DGDXQLODWHUDOPHQWHSDUD
PDQWHURGyODUGHVYDORUL]DGRIUHQWHDRPDUFRHDRLHQHPDUFDQGRR¿PGD
FRRUGHQDomRSDFWXDGD IRUPDO GDVSROtWLFDVPDFURHFRQ{PLFDVHQWUHRVSDt-
VHVGR*ɸDSDUWLUGHɲɺɹɺ4XDQGRRV(VWDGRV8QLGRVEDL[DPXQLODWHUDO-
PHQWHDWD[DGHMXURVSDUDɵɶQRPHUFDGRPRQHWiULRGH1RYD<RUNYHUL¿-
FDVHXPDDFHOHUDomRGRFUHVFLPHQWRHGDJOREDOL]DomRGRVPHUFDGRVIXWXURV
de juros e câmbio, com a saída dos fundos de pensão norte-americanos em
EXVFDGRVFKDPDGRV³PHUFDGRVHPHUJHQWHV´GDÈVLDH$PpULFD/DWLQD
– Sucessivas bolhas especulativas e crises bancárias com assaltos cambiais
direcionados indistintamente contra países de moedas “fortes” e “fracas” – isto
p YDORUL]DGDV H GHVYDORUL]DGDV HP UHODomR DR GyODU ± GD (XURSD FRP H[FH-
omR GD $OHPDQKD $ SURSRVWD GH XPD PRHGD ~QLFD R euro, então chamada
provisoriamente ecu TXHOHYDjDVVLQDWXUDGRVFRPSURPLVVRVGH0DDVWULFKW
ɸɳɲɺɺɳ  PXLWR PDLV UHVWULWLYRV GR TXH RV WHUPRV RULJLQDLV GD SURSRVWD
Delors, torna-se muito mais custosa e de difícil implementação a partir da crise
GRSDGUmRPRQHWiULRHXURSHXVHWHPHVHVGHSRLVHPVHWHPEURGHɲɺɺɳ
± ,QtFLR GD FRRUGHQDomR KHJHP{QLFD LQIRUPDO j PDUJHP GD DWXDomR GDV
DJrQFLDV PXOWLODWHUDLV 2 )(' FRQYRFD UHXQL}HV GH HPHUJrQFLD GRV SULQFLSDLV
EDQTXHLURV FHQWUDLV QDV JUDQGHV FULVHV FDPELDLV H EDQFiULDV (XURSD ɲɺɺɳ
0p[LFRɲɺɺɵH-DSmRɲɺɺɶ HYHPPRQLWRUDQGRDÀXWXDomRJOREDOGRGyODU
IUHQWHjVSULQFLSDLVPRHGDVLQWHUQDFLRQDLV$SUHVHQoD³REULJDWyULD´GRGyODUHP
DRPHQRVXPDGDVSRQWDVGHWRGDVDVRSHUDo}HVGHVHFXULWL]DomRHDUELWUDJHP
QRVSULQFLSDLVPHUFDGRVGHGHULYDWLYRVFDPELDLVD¿UPDGH¿QLWLYDPHQWHDSRVL-
omRGRPLQDQWHGDPRHGDDPHULFDQDQRVPHUFDGRV¿QDQFHLURVJOREDOL]DGRV
±6XUJLPHQWRGHQRYRVSRORVGHFUHVFLPHQWRHILQDQFHLURVQDÈVLD$
FRQFRUUrQFLDFRPHUFLDOHGHLQYHVWLPHQWRGLUHWRHQWUHRV(VWDGRV8QLGRV
H R -DSmR QR QRYR HVSDoR GH H[SDQVmR GR FDSLWDOLVPR WUDQVQDFLRQDO QD
ÈVLDSURGX]LXRVXUJLPHQWRGH³PLODJUHV´GHFUHVFLPHQWRHPQRYRVSDt-
VHV$RV7LJUHVVHJXLUDPVHRV³GUDJ}HV´HHPSDUWLFXODUD&KLQDFRQWL-
QHQWDO WRUQRXVH D PDLRU iUHD GH DWUDomR GRV FDSLWDLV TXH FLUFXODP QDV
SULQFLSDLV SUDoDV ILQDQFHLUDV GD ÈVLD QRWDGDPHQWH HP 7yTXLR +RQJ
.RQJH&LQJDSXUD
Hildete Pereira de Melo (Org.) 241

'RGyODUPRQHWiULRDRGyODU¿QDQFHLURDQRYD
face da hegemonia americana
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Hildete Pereira de Melo (Org.) 243

Daí a coordenação, espontânea ou forçada, com o dólar, por parte de to-


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244 Maria da Conceição Tavares: vida, ideias, teorias e políticas

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Hildete Pereira de Melo (Org.) 245

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246 Maria da Conceição Tavares: vida, ideias, teorias e políticas

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Hildete Pereira de Melo (Org.) 247

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internacional transcende de muito o seu papel como banco central clássico.
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ma, patenteada tanto pelo rankingGRVYLQWHPDLRUHVEDQFRV±TXHWHPÀXWXDGR
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constantemente, resultando prima facie numa crescente desintermediação ban-
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Assimetria no crescimento internacional


e a política da globalização
O período de crescimento iniciado a partir da recuperação da recessão de
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248 Maria da Conceição Tavares: vida, ideias, teorias e políticas

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QRWRULDPHQWHQRV(VWDGRV8QLGRVRQGHRVJUXSRVDÀXHQWHVVLWXDGRVQRSHU-
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WRGDUHQGDHQTXDQWRRVLQGLFDGRUHVGHSREUH]DHH[FOXVmRVRFLDODGTXLUHP
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levantesDVH[SRUWDo}HVJOREDLVDVSLUDomRGHWRGRVRVSDUWLFLSDQWHVGRMRJR
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mercial, e o investimento produtivo em ampliação de capacidade é preterido
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Hildete Pereira de Melo (Org.) 249

O primeiro é um momento concorrencial, marcado pela destruição e des-


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feita através da multiplicação das unidades fabris e pelo sucateamento de mo-
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políticas se revestem de caráter marcadamente nacional e territorial, ense-
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250 Maria da Conceição Tavares: vida, ideias, teorias e políticas

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por investimentos em reestruturação industrial e atração de capitais estran-
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Hildete Pereira de Melo (Org.) 251

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interrompidos por políticas de stop and go.
ɲɱ Fonte: D. Plihon, op. cit.
252 Maria da Conceição Tavares: vida, ideias, teorias e políticas

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ɲɲ Fonte: OECD Economic Outlook,Qɷɱ'HFHPEHUɲɺɺɷ


Hildete Pereira de Melo (Org.) 253

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Conclusão: precariedades e contradições


da hegemonia retomada
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254 Maria da Conceição Tavares: vida, ideias, teorias e políticas

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256 Maria da Conceição Tavares: vida, ideias, teorias e políticas

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+<0(56WHSKHQEmpresas multinacionais: a internacionalização do capital. Rio


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