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America's Liberal Hegemony- World New Order

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The world has changed now and changing so fast. Even the Biden administration cannot

restore America's liberal hegemony over the world. Even if Biden's government had unlimited

resources, there would be no way to turn back time. The status quo ante grew out of a kind of

post-Cold War euphoria, fueled by the idea that western liberal democracy had won a final

victory over communism and that the world had reached a point of stability.

When the United States was the only economic, military, and diplomatic power in the

world in the 1990s and 2000s, liberal hegemony made much sense. However, it is no longer true

in the fast-changing, multipolar world we live in now. It has been accurate for over a decade,

which is why the U.S. was moving away from being a world leader long before Trump took

office. The U.S. will not get over the most controversial president in its history quickly or

without pain. Reforming America is a must if it wants to get back to being a world leader.

Now the world is moving fast from uni-polar to bi-polar. Therefore, it is important to

rebuild the world order rather than restructure it; otherwise, moving on would be very difficult.

China is becoming a world power daily, and now it is a reality. The most important thing is to

make global economic systems as resistant to competition as possible. No matter who wins the

U.S. presidential election on November 3, the competition between the U.S. and China will still

be the most important thing going on in the rest of the world. However, the comparison to the

Cold War is wrong because the main players today are major economic partners. China now

makes up 18% of U.S. imports, while the Soviet Union never made up more than a fraction of a

percentage point. Die-hard supporters of decoupling in the U.S. mistakenly see China's continued

economic growth as a threat to national security. They want to end this interdependence in order

to stop China's economic rise. If They are getting away from China as a whole, it would be a

"high-cost, low-benefit policy.".

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References

Ben-Ami, S. (2020, November 18). Joe Biden’s World Order. Project Syndicate.

https://www.project-syndicate.org/commentary/liberal-world-order-after-trump-by-

shlomo-ben-ami-2020-11?barrier=accesspaylog

Pisani-Ferry, J. (2020, October 30). Globalization Needs Rebuilding, Not Just Repair. Project

Syndicate. https://www.project-syndicate.org/commentary/three-priorities-for-rebuilding-

international-economic-system-by-jean-pisani-ferry-2020-10?barrier=accesspaylog