Il the world we thought we knew has come to a standstillAlliances change direction, powers move with sudden shifts, the old certainties of globalization retreat in the face of a harsher, more unstable, less reassuring reality. It is within this scenario that Julius Sapelli, a high-ranking intellectual, returned to the bookstores on June 19, 2026 with his new essay, “The New World: Land-Power War, Trump and the New Imperialisms“, published by Guerini e Associati with a preface by Mauro Calise.
An economic historian and analyst of capitalism's major transitions and fractures, Sapelli approaches the present without succumbing to convenient explanations. His new book delves into the heart of contemporary geopolitical turmoil and attempts to decipher its underlying forces, where war, land control, industrial power, and financial domination are once again intertwined.
Neo-royalism and the return of American power
At the centre of the volume is a category destined to provoke discussion, the neo-royalism, also termed royalistic empireFor Sapelli, it is the new form of government of capital, an arrangement that finds its most recognizable expression in the Trump era. American national interest once again asserts itself as the governing principle, while foreign policy and security are reinterpreted in terms of power, strategic protection, and imperial reaffirmation.
However, this is not a linear restoration of American power. In the framework outlined by Sapelli, the new American course coexists with profound contradictions. Deindustrialization has weakened the productive fabric, protectionism can become a destabilizing factor, and ungoverned capitalism is taking on increasingly predatory traits. The result is a political and economic paradox: the push to reassert US hegemony could accelerate its fragility and pave the way for new post-American equilibria.
The fractures of globalization beyond easy narratives
"The New World" thus moves against the surface of current events. Sapelli avoid easy reading about technology, on the promises of artificial intelligence and the more linear narratives of progress, bringing our gaze back to the material fractures of globalization. Power is measured not only in the capacity to innovate, but also in the control of resources, supply chains, territories, production structures, and financial architectures.
The book is a crossing the present with the tools of economic history. Wars, empires, industrial crises, and rivalries between powers are not treated as isolated episodes, but as signs of a broader transformation. The world that emerges from Sapelli's pages is marked by new forms of imperialism, by a less integrated and more aggressive capitalism, by an international politics that has once again spoken the language of force.
Born in Turin in 1947, Giulio Sapelli has taught Economic History and Political Economy at universities in Europe and the Americas. He has worked as a consultant and board member for major industrial and financial groups. In 2020, he received Fincantieri's Fieri Award for Lifetime Achievement and is president of the Germozzi Foundation of Confartigianato.
Among his most recent publications are “Beyond Capitalism” of 2018, “Nothing is as it was before” of 2019 with Enrico Quintavalle, “Why businesses exist and how they are made” of 2019, “Pandemic and Resurrection” of 2020, “In world history” of 2021, “Dragons or Chaos” of 2021 with Lodovico Festa, “Ukraine Year Zero” of 2022, “Towards the end of the world” 2024 and “The great return” of 2025.
