Kung Chan and Zhijiang Zhao
With the current surge of anti-globalization, the world is witnessing significant structural changes. An interesting question arises: as the overall global market space may fracture into regional or relatively independent market spaces, giving rise to different regional hegemonies. By then, will a return to isolationism lead the U.S. toward decline? ANBOUND’s founder Mr. Kung Chan believes that answering this question requires examining the Gilded Age in American history, and the outcome may be quite the opposite.
The Gilded Age generally refers to the period from the 1870s to 1900, which was the time between the end of the American Civil War and the beginning of the U.S. overseas expansion. The term “Gilded Age” is derived from Mark Twain’s novel of the same name. Twain’s satire describes the superficial economic growth of the U.S., along with corruption and social inequality, reflecting the myth of wealth in the U.S. during this period. In this era filled with speculation and wealth accumulation, the American economy witnessed tremendous wealth generated in industries such as railways, steel, and oil, giving rise to many well-known industrial magnates of the time, such as railroad tycoon Cornelius Vanderbilt, oil tycoon John D. Rockefeller, and steel tycoon Andrew Carnegie.
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