Special reports![](https://www.economist.com/cdn-cgi/image/width=1424,quality=80,format=auto/content-assets/images/20240511_SRR_SQ.jpg)
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Deglobalisation of finance
Worlds apart
Special reports -
The American-led financial order is giving way to a more divided one
- Worlds apart: The global financial system is in danger of fragmenting
- Realignment: How crises reshaped the world financial system
- Cross-border investment: The movement of capital globally is in decline
- Transactions: National payment systems are proliferating
- Currency wars: The fight to dethrone the dollar
- Future shock: How the financial system would respond to a superpower war
- Deglobalisation of finance: Sources and acknowledgments
![A debit card with the image of a world map that's been fractured and broken up](https://www.economist.com/cdn-cgi/image/width=1424,quality=80,format=auto/content-assets/images/20240511_SRD001.jpg)
Worlds apart
The global financial system is in danger of fragmenting
The American-led financial order is giving way to a more divided one
![A glass bottle on its side with a dollar that's been folded into the shape of a boat](https://www.economist.com/cdn-cgi/image/width=1424,quality=80,format=auto/content-assets/images/20240511_SRD003.jpg)
Cross-border investment
The movement of capital globally is in decline
Geopolitics is altering its trajectory
![A table tennis table whose net has been replaced by a large debit card that’s blocking either side from playing.](https://www.economist.com/cdn-cgi/image/width=1424,quality=80,format=auto/content-assets/images/20240511_SRD004.jpg)
Transactions
National payment systems are proliferating
That spurs competition, innovation—and cross-border frictions
![A roll of dollar bills on the side, with a green toy soldier leaning out of the side](https://www.economist.com/cdn-cgi/image/width=1424,quality=80,format=auto/content-assets/images/20240511_SRD005.jpg)
Currency wars
The fight to dethrone the dollar
Attempts to challenge the dollar have only strengthened its dominance
![Rolls of bills that looks like a bundle of dynamite that's about to explode](https://www.economist.com/cdn-cgi/image/width=1424,quality=80,format=auto/content-assets/images/20240511_SRD006.jpg)
Future shock
How the financial system would respond to a superpower war
A conflict could deal a death blow to the global financial order
Previous report
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India’s economy
The India express
Special reports -
With the right changes, it can become an engine of global growth, say Arjun Ramani and Thomas Easton