The history of 'actually existing' capitalism is one of the conquest and submission of Asia, Africa, and Latin America to the imperialist rule of Europe, the United States and Japan. The twentieth century witnessed the first wave of liberation of nations of the South, and the 21st century will see the emergence of a second wave of emancipation of these countries, which will change the face of the world. The simultaneous anti-imperialist dimension of the struggles in these nations will pose a challenge to capitalism. Decisive advances towards socialism in the 21st century will create the basis for a revival of internationalism among working classes peoples of the world, as against the cosmopolitanism of the oligarchies who currently manage capitalist-imperialist globalization.