1 liberal world order survives end of unipolar American moment 2 wars and revolutions lead to collapse of order 3 great power concert could bring relative stability but fail to tackle global challenges @FESinAsia@fesnewyork@FESonline
4 new cold war partly blocks rule-based multilateral system, but allows for limited cooperation 5 an illiberal order with Chinese characteristics. @CharlesKupchan
The West needs the cooperation of undemocratic powers from Turkey to the Gulf monarchies, from Singapore to Vietnam. The high-minded rhetoric of the systemic rivalry between democracies against autocracies is prone to alienate these much-needed potential allies @USAmbGermany
With a view of containing an aggressive Russia, a rapprochement with China may have its merits. For many in the West, this would require an about-face. @merics_eu@m_huotari
Germany can only survive within the framework of a united #Europe. Economically, it can only prosper in open world markets. For both, a rules-based, #multilateral order is indispensable. Given the intensity of today’s #systemicrivalry, some may doubt its feasibility.
However, it is worth remembering that even at the heyday of the #ColdWar, within the framework of a constrained multilateralism, cooperation based on common interests did occur @schieritz@NathalieTocci
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1/6 Corona may be the fuse triggering a systemic crisis. We already have 1) Disruption of supply chains 2) commodity slump 3) market corrections 4) oil wars
2/6 Next will be consumer demand collapse. Entire industrie from aviation to tourism will be hit.
3/6 The oil wars may trigger the meltdown in debtridden US shale. Disruption of Chinese industry may trigger collapse of debtridden Chinese SOCs and/ or banking sector