Is a new world economic order emerging? | Counting the Cost
Summary
The video delves into the evolving global economic landscape, zeroing in on the rivalry between the US and China, the collapse of the old economic order, and the emergence of new alliances like BRICS. It explores challenges such as geopolitical tensions, trade restrictions, and the need for reform in global economic governance to foster a fair trading environment. Additionally, the discussion touches on the intensifying economic competition between the US and China, the role of the BRICS alliance in countering US-led financial institutions, and the potential for a new world order amidst shifting geopolitical dynamics.
Chapters
Introduction to Global Economic Shifts
Challenges to Economic Order
Voices on Global Economic Governance
Panel Discussion on New World Order
US-China Economic Competition
BRICS Alliance and New Development Bank
Future of Global Economic Order
Reform of International Institutions
Potential Economic War and World Order Shift
Impact of Economic Competition and Nationalism
Optimism and Alternative Economic Systems
Introduction to Global Economic Shifts
Discussion on the changing global economic landscape with a focus on the rivalry between the US and China, the collapse of the old economic order, and the emergence of new alliances like BRICS.
Challenges to Economic Order
Exploration of the challenges faced by the traditional economic order, including geopolitical tensions, trade restrictions, and the disintegration of global economic governance systems.
Voices on Global Economic Governance
Insights from global leaders on the need for reform in global economic governance to reflect current realities and create a fair trading environment.
Panel Discussion on New World Order
Panel discussion with experts from Singapore, Johannesburg, and London on the current state of the world order, the collapse of the old system, and the shift towards a more dynamic and forward-looking economic performance approach.
US-China Economic Competition
Analysis of the intensifying economic competition between the US and China, including trade restrictions, investment curbs, and the impact on global trade and investment flows.
BRICS Alliance and New Development Bank
Exploration of the BRICS alliance's efforts to counter the US-led financial institutions, such as the World Bank, through initiatives like the New Development Bank and the aim to reduce dependency on the US dollar.
Future of Global Economic Order
Discussions on the future of the global economic order, the role of the US dollar as the dominant currency, challenges to the current rules-based system, and the potential for a new world order.
Reform of International Institutions
Debate on the need for reform in international institutions like the WTO, concerns about the breakdown of the existing order, and skepticism towards the effectiveness of current geopolitical dynamics in fostering a fairer global system.
Potential Economic War and World Order Shift
Assessment of the likelihood of a full-blown economic war between the US and China, the shift towards a new world order marked by geopolitical conflicts, and the implications for global economic stability.
Impact of Economic Competition and Nationalism
Analysis of the economic competition between the US and China, the rise of nationalism, isolationism, and the challenges in navigating the evolving global economic landscape.
Optimism and Alternative Economic Systems
Final reflections on optimism for the future, the potential for alternative economic systems, the demand for diverse financial sources, and the importance of leveraging opportunities in the current economic climate.
FAQ
Q: What are some challenges faced by the traditional economic order?
A: Challenges faced by the traditional economic order include geopolitical tensions, trade restrictions, and the disintegration of global economic governance systems.
Q: What is the aim of the BRICS alliance in countering US-led financial institutions?
A: The aim of the BRICS alliance is to counter US-led financial institutions, such as the World Bank, through initiatives like the New Development Bank and the aim to reduce dependency on the US dollar.
Q: What is the potential impact of the intensifying economic competition between the US and China on global trade and investment flows?
A: The intensifying economic competition between the US and China can have impacts on global trade and investment flows, including trade restrictions, investment curbs, and changes in overall economic dynamics.
Q: Why is there a debate on the need for reform in international institutions like the WTO?
A: There is a debate on the need for reform in international institutions like the WTO due to concerns about the breakdown of the existing economic order and skepticism towards the effectiveness of current geopolitical dynamics in fostering a fairer global system.
Q: What are some factors contributing to the rise of nationalism and isolationism in the context of evolving global economic landscape?
A: Factors contributing to the rise of nationalism and isolationism include economic competition between the US and China, geopolitical tensions, and challenges in adapting to the changing economic order.
Q: What are the main themes of the discussions on the future of the global economic order?
A: Main themes of the discussions on the future of the global economic order include the role of the US dollar as the dominant currency, challenges to the current rules-based system, and the potential for a new world order with geopolitical conflicts and economic instability.
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