Now is a time for collaboration and international cooperation to support the survival and recovery of our planet and humanity. Finally, the authors locate the potential for transatlantic leadership in the context of the global power shift. This changing structure of power complicates the exercise of leadership. In global systemic competition with state-capitalist countries such as China and Vietnam, Western countries have enormous competitive advantages to offer: for example, the creative power of free-market competition, the stability and integration of democracy, and the attractiveness of constitutions based on the rule of law for investors. This chapter focuses on understanding what How can we start to think about building an Africa that is ready to serve the world? We will put COVID-19 behind us, but how the world looks on the other side is up to us. The Transatlantic Security Community: Erosion from Within? Corporations will have to re-evaluate their values and norms to maintain their longevity and success in the new world order. This system shaped a complex international structure that has helped in the acceleration of globalisation and the opening of further markets over the last decades. Germany’s share of world trade has fallen significantly: from twelve percent in 1990 to eight percent in 2018; the situation is similar for the EU28 as a whole (from 44.7 % to 33.3 %). Brazil, now the ninth largest economy in the world, is working at a rapid pace to digitise its large agricultural sector. organisations, in multilateral institutions, global governance activities, and also in bilateral strategic partnership agreements (see Renard, Biscop 2012). Editors: Alcaro, Riccardo, Peterson, John, Greco, Ettore (Eds.) As protectionist policies curb free trade and global networks weaken, corporations are likely to see even greater emphasis on regional economic partnerships. The central issues to be addressed include theoretical questions and empirical puzzles: How can studies of global power shift and the rise of ‘emerging powers’ benefit from existing theories, and which alternative aspects and theoretical approaches might be suitable? (co-edited with D. Kenealy and R. Corbett, 2015); Parochial Global Europe: 21st Century Trade Politics (co-authored with A. “This already is being used as an instrument of power by U.S. President Donald Trump,” said Ashraf. The biggest challenge for America is that the Chinese consider all these dimensions together. As globalisation has advanced in recent decades, emerging markets such as China, India, and Brazil have expanded their economic importance. Structures based on their colonial past will be broken down, with no overriding global values systems to guide their development, no harmonisation of norms and no synergies to be leveraged. Developing countries will see a greater assertion of identities. Two competing systems might reign simultaneously. Germany is benefiting from this. enable JavaScript in your browser. BDI e.V. The worst-case scenario for corporations, should the U.S.-China hostilities escalate, is the potential threat to global supply chains and the weakening of the global ecosystem. Going forward, Western companies will have to accept that the new world order will be a very different place. Global Power Shift. 9 - Trilateral Relations among Africa, China and Europe: A Chinese Perspective, 10 - South America and US Relations: Implications for Regional Security, 11 - The Future Developments in Global Governance – Multilateralism & Regionalization Process: India's Role, 12 - Managing Social Issues for Sustainable Development: The Indian Experiences, Part Three - Case Studies in Global Governance, 13 - Unity in Diversity: South Coalitions as Governance Adaption Vehicles in Global Trade Governance, 14 - In the Foggy Middle East: Just Wars Remain the Name of the Game. “In fact, I think we will be seeing far greater state intervention, across the world, being used to drive the economies, whether in the U.S., China and even India.”. on the Manage Your Content and Devices page of your Amazon account. Please review prior to ordering. Read Sarah Dusek's full executive profile here. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Instability blurs the strategic posture of businesses and creates complexities in the corporate governance landscape. Multipolarity, Multilateralism and Leadership: The Retreat of the West? So, instead of only investing in companies on U.S. soil and focusing all our energies on home shores, we must widen our perimeters to build a more equal world that is prepared for future realities.
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