Globalization, European Union And Economic Integration Evaluation Note / Bozkurt Aran

The Global Order

The universe of global economic relations facing the intimidating winds of change has compelled the major stakeholders of the system to expedite the process for a new set of rules. The change is still unfolding. It is far too early to forecast how the new book of rules of global trade and economic activities will finally be shaped. However, the profound changes brought about by the technological breakthroughs bring into the discussions a sense of urgency.  And of course as always time is of the essence.

However, certain clues as to how the new architecture is molding and what the instruments shaping the new set-up are.  One thing is sure; the global architecture conceived, agreed and implemented for the last seven decades is facing an unprecedented challenge today. The challenge arises predominantly from democratic choices the nations make, mostly initiated by populist politicians.

The process of demise of the existing global political and economic order has been accelerated by the so-called “populist nationalists”. This reversal suggests to a new age that is drastically different from the old global order. The new age will have key implications by redefining the weight of nations in international relations. Obviously geopolitical considerations will have a major say in the new emerging system.

You may read full paper from here.