A new world order? 12 leading global thinkers envisage life after covid-19
A new world order? 12 leading global thinkers envisage life after covid-19: The long-term economic and social impact of covid-19 will be profound and far-reaching, likely to deepen existing fissures in our globally interconnected world, says this Foreign Policy piece. The key takeaways:
Globalization will come under fire, with fears about the fragility of global supply chains meaning more reliance on domestic resources. This could mean greater supply stability and a reduction in carbon emissions, but could also bring a rise in protectionism — at least in the short term — as national interests trump European integration, Chinese-American relations, and the commitment to tackle global problems such as climate change.
An inevitable shift away from the US and towards China: US leadership has been tested and found wanting during the covid-19 crisis, and this is likely to accelerate the rise of power and influence in East Asia, particularly China. If the US wants to remain competitive and protect its security, it will firstly need to put aside its trade war and cooperate with China, says Mahbubani, and secondly think in much broader terms than its current strategy of acting alone.
Some small glimpses of hope: Individual and collective examples of human courage, resilience and leadership are the best reasons for hope at a time when fear abounds, says Nicholas Burns. These may be channelled into better healthcare provision, more resilient supply chain models, and a recognition that multilateral collaboration on big, global issues is in everyone’s interests, some of the writers say. Though we are likely to see more sweeping waves of nationalism and great-power rivalry, G. John Ikenberry holds out hope that in time we may also see a countermovement, as in the 1930s and 40s, towards “pragmatic and protective internationalism.”