The World Economic Forum, or Davos, represents a dying breed of liberal internationalism. The event's organizers had to tone down the promotion of woke capitalism and gender equality to secure Donald Trump's attendance, highlighting just how out of touch they are with the prevailing winds of change.
For decades, anti-globalization protesters have been trying to shut down Davos, and now it seems their efforts may finally be paying off. The liberal international rules-based order that the World Economic Forum prides itself on upholding is rapidly becoming obsolete. A "world without rules" is the reality that French President Emmanuel Macron aptly described.
The liberal rules-based order was never more than a euphemism for US hegemony, with Europe as its junior partner. The US guaranteed Europe's security through NATO and acted as the world's consumer of last resort. However, this arrangement has been breaking down since before Trump's presidency, mainly due to internal weaknesses in the international architecture.
The post-war economic framework, including the International Monetary Fund (IMF) and World Bank, is now more than eight decades old and was designed during a time when US power was at its zenith. The governance structure of these institutions still largely reflects this outdated reality. Powerful emerging countries like China, India, and Brazil are increasingly questioning why the IMF and World Bank's decision-making processes should not reflect the world as it exists today, rather than the one that existed in 1944.
The rules-based order is also facing threats from within. The liberal democracy that underpinned an economy where a rising tide lifted all boats is no longer a viable option, especially when the rich are getting richer while those on middle incomes and below struggle. Trump's America is a stark example of this, with labor's share of national income at its lowest level since records began.
What happens next remains uncertain, but it's clear that a well-functioning international order requires faster and more inclusive growth, higher investment in public infrastructure, financial assistance to poorer countries to protect them against the climate crisis, and reform of international institutions. The old order is indeed not coming back, as former Bank of England Governor Mark Carney noted during his speech at Davos earlier this week.
It's unlikely that Trump will be the last hurdle to overcome for a rejuvenated rules-based order. It requires a fundamental transformation in how we approach globalization and international cooperation, one that prioritizes inclusivity, sustainability, and equity over the interests of a select few. Until then, it seems the world is indeed heading towards a "world without rules," where only the strongest and most cunning survive.
For decades, anti-globalization protesters have been trying to shut down Davos, and now it seems their efforts may finally be paying off. The liberal international rules-based order that the World Economic Forum prides itself on upholding is rapidly becoming obsolete. A "world without rules" is the reality that French President Emmanuel Macron aptly described.
The liberal rules-based order was never more than a euphemism for US hegemony, with Europe as its junior partner. The US guaranteed Europe's security through NATO and acted as the world's consumer of last resort. However, this arrangement has been breaking down since before Trump's presidency, mainly due to internal weaknesses in the international architecture.
The post-war economic framework, including the International Monetary Fund (IMF) and World Bank, is now more than eight decades old and was designed during a time when US power was at its zenith. The governance structure of these institutions still largely reflects this outdated reality. Powerful emerging countries like China, India, and Brazil are increasingly questioning why the IMF and World Bank's decision-making processes should not reflect the world as it exists today, rather than the one that existed in 1944.
The rules-based order is also facing threats from within. The liberal democracy that underpinned an economy where a rising tide lifted all boats is no longer a viable option, especially when the rich are getting richer while those on middle incomes and below struggle. Trump's America is a stark example of this, with labor's share of national income at its lowest level since records began.
What happens next remains uncertain, but it's clear that a well-functioning international order requires faster and more inclusive growth, higher investment in public infrastructure, financial assistance to poorer countries to protect them against the climate crisis, and reform of international institutions. The old order is indeed not coming back, as former Bank of England Governor Mark Carney noted during his speech at Davos earlier this week.
It's unlikely that Trump will be the last hurdle to overcome for a rejuvenated rules-based order. It requires a fundamental transformation in how we approach globalization and international cooperation, one that prioritizes inclusivity, sustainability, and equity over the interests of a select few. Until then, it seems the world is indeed heading towards a "world without rules," where only the strongest and most cunning survive.
. Remember when globalization was all about lifting everyone up? Now it seems like it's just about the super rich getting richer and leaving everyone else behind 
. I'm not saying Trump didn't have a point, but the whole thing feels so... outdated 
. We need some real change here, you know? More focus on public infrastructure, climate crisis funding, that sort of thing 
. The old rules just aren't working anymore 
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. It's like they're playing catch-up with changing global dynamics. The liberal internationalism vibe just isn't as cool as some of the newer, more inclusive approaches to global governance 
. Maybe Trump's presence was a wake-up call for them? Either way, I hope they can find a way to make this work that benefits everyone 
️. It's time for a more inclusive, sustainable approach to globalization 
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We can't keep living in a world where the strong prey on the weak – it's time for some real change 
. Davos might be trying to adapt, but they're still stuck on old ideas 
. The idea of "liberal internationalism" sounds great on paper, but it's not working for everyone 
. I mean, who needs woke capitalism and gender equality when you can just make noise about it? 
. It's time for international institutions to listen to emerging countries like China, India, and Brazil – they're not going away 
. And what about the middle class? They're getting left behind 
.
. It won't be easy, but if we can get the growth, infrastructure, and climate crisis parts sorted out, maybe – just maybe – we'll create something better than what came before 
.
. Trump's presidency just highlighted the cracks in that system 
. The IMF, World Bank... they're like ancient institutions that need an update 
. It's not all doom and gloom tho! I think this is an opportunity for the world to start fresh and create something new 
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. Maybe this is the wake-up call we need to rethink how we're living and working together 
.
it's crazy how the whole liberal international rules-based order is just crumbling at the seams like a broken smartphone 
we need some serious reforms, like, now 
not after the next 10 yrs of 'the world without rules' 
... but those roots are slowly dying out because the soil around them has changed 
. The old international order was like that tree - it worked well for a while, but times have moved on and now it's time for a new one 
.
... not just what makes the US happy 
. And let's be real, those "liberal values" they're always touting are more like a fancy way of saying "US rulez" 
... especially when you think about how the rich get richer while everyone else struggles to make ends meet 
... and only time will tell which path we take 
. And let's be real, the liberal rules-based order never really had anything to do with promoting equality or justice; it was always about keeping the US on top 
. Now that we're seeing some real power shifts happening worldwide, it's time for a new way of doing things...but will anyone actually listen? 
...i mean how are we gonna solve our problems if we don't even have rules anymore? 
.
. I mean, who needs those rules anyway? The strong will survive, the weak will... not 
. Davos and its liberal internationalism are so overhyped. The fact that they had to water down their woke capitalism and gender equality messages to get Trump on board just shows how out of touch they're with the times 
. And let's be real, the anti-globalization protests have been kinda effective in shutting down the whole thing