How would adherents of the theory of hegemonic stability explain the on-going global financial and monetary crisis and the increasing difficulties of negotiating global trade regimes?

How would adherents of the theory of hegemonic stability explain the on-going global financial and monetary crisis and the increasing difficulties of negotiating global trade regimes? Project description How would adherents of the theory of hegemonic stability explain the on-going global financial and monetary crisis and the increasing difficulties of negotiating global trade regimes?