Suchergebnisse

Two major events in the beginning of 21st century, that brought about change in the global structure and later played a fast-track role in reshaping the global order are: 9/11 attacks on the US, and China's accession to World Trade Organization. The first event antagonized USA and triggered war on terror. USA along with its allies led the war on perceived terrorists while Afghanistan became the host of war (Thimm 2018). The second event opened the world doors for China integrating the country into global system and paving the way for its rise (Li & Tu 2018). These events were followed by 2007-08 financial crisis that had also jolted the global economic order, but soon the economies came back on track with varying degrees. Financial crisis also introduced some new players (China, India, Turkey, South Africa among others) on global stage (Woods 2010). Now, the outbreak of COVID-19 across the world has exposed the weaknesses of global governance structure on the one hand and on the other selfishness behind the slogan of solidary and human rights. At this point of time, the US, which used to be a generous global partner, is giving no heed to the needs of world community, and is following the strategy of 'America First' (Clausing 2020). The EU did not help Italy in such testing times, and even France and Germany put conditionalities on the export of medical supplies and products. All these events created a web (Fig-1) which has grappled the world and accelerated the process of change. In addition, a good number of other issues continued to haunt the world and accelerated the process of change. The world has failed to achieve Millennium Development Goals; WTO negotiations are stand still; the champions of global order are backtracking; and forums like the EU are under threat of survival. Climate change is another global phenomenon, which is causing resources constraint. It has turned to be an existential threat to planet earth and human beings (Cherkaoui 2020). These events are heralding a new wave of globalization. Since, globalization is regarded as an inevitable economic, social and cultural trend of the previous century, however, there is no clear picture available which can suggest the structure of future global order (Allen-Handy et al. 2020). There is a huge research gap to identify the future dimensions and roles of players. This policy review aims to contribute to bridge the gap and analyze the process of change, actors of change, and new global order.