Video Observer Research Foundation: Towards a New Geopolitical Reality: Navigating the Aftermath of the Liberal World Order. "Europe Lost Its Power by Chasing the Wrong Goals" – Former PM Liz Truss.
"Europe Lost Its Power by Chasing the Wrong Goals" – Former PM Liz Truss Speaks Out
In the postwar era, the U.S.-led liberal international order underpinned the rules and norms for security, economic, and diplomatic interactions among states. However, with the domestic political backlash against unregulated globalisation, coupled with the rise of other major powers such as China and their global ambitions, the old world order has lost its traditional underwriters. In this state of flux and global power vacuum, armed conflicts have become more frequent, and the international economy risks getting fragmented into competing blocs. While the global order has left its old destination, it is not certain what its next stop might be. This panel discusses the breakdown of the old order and strategies for nation-states to navigate through this phase of extraordinary risk and uncertainty.
What led to the breakdown of the liberal international order, and have the political classes across the world adequately addressed the concerns of the people left behind and their grievances?
With rising conflicts and the rampant usage of coercive economic statecraft, how can nation-states avoid getting embroiled in competing economic blocs and create institutional arrangements to facilitate swift dispute resolution?
Considering that over the past two millennia, a working rules-based global order was an aberration and not the norm, is the international system yet again returning to an era of spheres of influence and protracted conflicts?
Speakers:
Liz Truss, Former Prime Minister, United Kingdom
John Mearsheimer, R. Wendell Harrison Distinguished Service Professor, Political Science Department, University of Chicago, United States
Sanjeev Sanyal, Member, Economic Advisory Council to the Prime Minister, India
Eric X. Li, Chairman, Chengwei Capital, China
Gladden Pappin, President, Hungarian Institute of International Affairs, Hungary
Moderator: Zoltán Szalai, Director General, Mathias Corvinus Collegium, Hungary
