New Global Economic Order: How To Create A Global Security System
Metadata:
New Global Economic Order: How To Create A Global Security System
Book Chapter
Arindam Bhattacharya,
Chapter published 2022 via Advocacy Unified Network
What this paper is about However, this trend was reversed in the late 1980s and early 1990s as many countries implemented market-oriented reforms and signed free trade agreements. International Relations and politics depend on New Global Economic Order. The New Global Economic Order seeks to establish an economic system in which nations work collaboratively for mutual prosperity. What you can learn Either way, we should fear international terrorism or regional conflict more than global war in 2022–2025. But more than worrying about international terrorism or regional conflict we must focus on creating a global security system. This system will help to stabilize the world economy and prevent market turmoil. Engaging in open dialogue with all the stakeholders are some of the steps that we can take now to create a better future. But the question remains How to Create a Global Security System Based on New Global Economic Order? The……
https://doi.org/10.57939/614m-0x12
Citation
Arindam Bhattacharya. (2022). New Global Economic Order: How To Create A Global Security System. Advocacy Unified Network. https://doi.org/10.57939/614M-0X12
Abstract
What this paper is about
However, this trend was reversed in the late 1980s and early 1990s as many countries implemented market-oriented reforms and signed free trade agreements. International Relations and politics depend on New Global Economic Order. The New Global Economic Order seeks to establish an economic system in which nations work collaboratively for mutual prosperity.
What you can learn
Either way, we should fear international terrorism or regional conflict more than global war in 2022–2025. But more than worrying about international terrorism or regional conflict we must focus on creating a global security system. This system will help to stabilize the world economy and prevent market turmoil. Engaging in open dialogue with all the stakeholders are some of the steps that we can take now to create a better future.
But the question remains How to Create a Global Security System Based on New Global Economic Order? The world economic order, shaped in the late 19th century, has shown signs of senescence since the financial crisis of 2008–2009.
International Economic Order: A historical overview
The New Global Economic Order is the latest stage in the evolution of the international economic order. It began with the Bretton Woods Agreement in 1944, which established the International Monetary Fund (IMF) and the World Bank. The IMF was designed to stabilize exchange rates and promote global trade, while the World Bank was tasked with providing financing for postwar reconstruction and development. In 1971, the Bretton Woods system collapsed, leading to a period of floating exchange rates and increased economic globalization. The early 1980s saw a resurgence in protectionism as developed countries sought to shield their industries from foreign competition. However, this trend was reversed in the late 1980s and early 1990s as many countries implemented market-oriented reforms and signed free trade agreements.
In 1995, the WTO replaced GATT as the main instrument for global trade negotiations; meanwhile, multilateral cooperation on other issues such as climate change also progressed. By 2008, according to WTO statistics, there were 147 regional free trade agreements in force worldwide; these included biggies like NAFTA and ASEAN, plus China’s four FTAs that brought together Europe, North America, and East Asia. Indeed by 2010, almost one-third of world exports passed through regional trading blocs like NAFTA. Thus today’s ‘New Global Economic Order’ is one based on open borders that creates opportunity around commercial and social mobility rather than fortress economies that aim to keep out outside influences through rigid controls at home or outright wars abroad. Today’s New Global Economic Order can be summed up in three words: interconnectedness, interdependence, and integration. And yet still, it has its detractors who call it naivety when we should be facing off against our perceived foes who may create enemies that we will eventually have to fight anyway!
The Future of the World Economy, International Relations, and politics depends on New Global Economic Order. The New Global Economic Order seeks to establish an economic system in which nations work collaboratively for mutual prosperity. In this future, even traditionally adversarial states will put aside their differences and unite for the common good. Some world leaders have tried such a strategy with some success: President Obama called China their banker during the financial crisis because it loaned the US more money than any other country. He could also have said ‘our friend’ instead because his action would have led to far better relations between Beijing and Washington and likely eased any tensions over Taiwan and Tibet as well!
What is Global monetary disorder?
It is a global economic crisis characterized by imbalances in the international financial system. It can be caused by several factors, including currency manipulation, trade imbalances, and quantitative easing. The New Global Monetary Disorder can cause a full-scale currency war and massive market turmoil. To avoid this, we need to create a global security system. The new international monetary disorder will be prevented by making an effective new world order. The Bretton Woods system, for example, was established with a UN agreement signed at Bretton Woods on July 22, 1944. A significant part of the agreement establishes the International Monetary Fund (IMF) and International Bank for Reconstruction and Development (IBRD). Therefore, these institutions would help stabilize exchange rates while assisting other countries facing balance of payments issues or high inflation rates.
One major factor causing new global monetary disorder today is quantitative easing, where Central Banks purchase assets from commercial banks, thereby increasing market liquidity. More often than not, Central Banks buy government bonds, putting pressure on bond yields to rise. As a result, the money becomes worth less and less as governments print more money which causes the prices of goods to increase. There needs to be some form of regulation regarding government-printed money so that inflation does not take over a country’s economy. Another way to prevent the effects of New Global Monetary Disorder is by having a global security system. Countries should work together to make sure that certain aspects like currency values stay stable among all nations. If there is no more competitive devaluation, there will be no currency wars either! Competitiveness and competitiveness are what keep currencies competitive. So if each currency remains competitive, this will ultimately prevent currency wars and market turmoil due to sudden fluctuations in one currency’s value against anothers’. The crises brought about by New Global Monetary Disorder could be avoided with a stable system.
What is a global security system?
A global security system is a set of international organizations, institutions, and agreements that work together to promote peace and security. The United Nations, NATO, and the World Bank are all examples of global security systems. We need a new international security system to continue our development and safety in this changing world. We must protect ourselves from regional conflicts such as terrorism and massive market turmoil that could occur due to currency wars. The future of the world economy, international relations, and politics depend on it! We need to create a new global security system that includes other countries and various institutions to ensure prosperity for all.
But what should be included?
I believe there should be three pillars: economic security, social security, and environmental protection, with each pillar being equally important.
What would happen if we didn’t have these pillars? If our economic security isn’t ensured? Social strife will follow, and economic disparity will worsen as people lose faith in their leaders or society as a whole becomes more unequal because they are denied education or jobs. -If social equality is lost, our market turmoil will lead us into an age of darkness where everyone suffers regardless of class or education level! So let’s establish a new global security system before it’s too late!
To do so, we need to give power back to the people. That means opening up all markets for free trade and including policies for fair distribution of wealth, which benefits the poorest nations first. Also, any country that participates in this global security system needs strong financial policies, which include fiscal prudence (strict government budget discipline), capital market regulation (controls over banks, investments, etc.), and monetary policy (interest rates) aimed at price stability and sustainable growth. These three principles can help build a stable and secure foundation for achieving economic security, leading to more excellent international political stability and increasing social justice domestically- achieving global harmony among nations so we can avoid a dark age full of hatred.
Is it Possible to Establish Effective Global Governance?
The international community has long recognized the need for a global security system. The end of the Cold War and the rise of international terrorism have only made this more urgent. But what exactly is a global security system? And how would it work in practice? A state-centric approach might require regional powers to provide troops, money, or diplomatic support as required by the UN Security Council.
It is also possible that some states could form coalitions for joint operations. To avoid such entanglements, there may be a preference for decentralized operations by specially trained personnel — police forces, peacekeepers, humanitarian agencies — working under the direction of the UN or other umbrella organizations.
The future balance between traditional military power and so-called new security threats will likely depend on many factors. Four key considerations will play into this. First, if one believes the future belongs to Asia, then military force must take a back seat because diplomacy and economic development must come first; second, if one considers conflicts will arise from climate change, pandemics, food shortages, or resource scarcity, then again it’s not just about bullets but also stability assistance; thirdly if we believe that nuclear proliferation continues then deterrence through extended nuclear deterrence should apply; fourthly though minor arms trafficking often can seem like an intractable problem with no solution today — any successful comprehensive global security system must include measures to stop these flows. It is difficult to say whether a fully operational global security system will ever be created. But at least now, there is enough understanding of what it would entail that those engaged in discussions around this issue can focus their efforts where they are most needed.
Recent Developments in an Effort to Create a Multilateral Security System
The United Nations has spearheaded recent developments to create a multilateral security system. The UN’s goal is to maintain international peace and conflict and the future of world politics. To do this, the UN has been working on creating a global security system. The global security system would comprise multiple countries and organizations working together to keep the world safe.
So far, the UN has succeeded in getting countries to agree to work together on this issue. However, many challenges still need to be overcome before a full-scale global security system can be implemented. One of the biggest challenges is getting all the countries involved to agree on the rules and regulations. Some countries feel the need for more transparency, but others choose to conceal what they’re doing. Other countries don’t want other people interfering with their business because they feel it will weaken their power or authority over their own country. These disagreements make it difficult for everyone to come together on this issue and get a consensus about how things should work in the future. Even though these disputes happen, I believe most of these issues will eventually be resolved. Once there is a general agreement on how things should be handled. I think we’ll see the creation of a fully functioning global security system with every country involved contributing to its upkeep.
Globalization becomes more prominent as technology advances, and our world becomes increasingly interconnected through social media platforms such as Facebook and Twitter. As people interact and communicate more often than ever thanks to these new technologies, traditional boundaries between countries break down rapidly — which can lead to new opportunities for cooperation and conflict in the form of terrorism or regional warfare.
Why Is a Multilateral Approach Necessary?
To create a global security system, it is necessary to have a multilateral approach that involves all countries. This is because no one government can effectively tackle the problem of international terrorism or regional conflict alone. Furthermore, a multilateral system is necessary to avoid the politics of blame and finger-pointing that can often accompany these issues. Additionally, a multilateral approach can help build trust and cooperation among countries, which is essential for tackling global challenges. International Terrorism cannot be entirely eliminated from the world, but through international cooperation, we may be able to reduce its occurrence. International relations can also provide an outlet for tensions leading to conflicts between states.
The politics of International Relations are needed to resolve differences and create diplomacy, rather than turning to war. History shows that international disputes can escalate into wars involving many countries. Still, they do not need to result in war if dealt with peacefully through International Relations. One example is during the Cold War when America created alliances with European countries such as Germany and France so they would not side with Russia during their dispute. These alliances helped prevent wars between Western European nations at this time by addressing political tensions before they could turn into military conflicts.
International Relations are essential to building trust among countries and cooperating on global challenges. International terrorism and regional conflict cannot be resolved without international cooperation. For example, Iran’s nuclear program would not have been addressed successfully without international politics, as sanctions against Iran were put in place after much debate among the UN Security Council members. In addition, American-led invasions of Iraq and Afghanistan also show how international politics can address significant problems such as terrorist threats. It is important to remember that there will always be disagreement between different ideologies or cultures when dealing with International Politics; however, engaging other countries diplomatically will hopefully allow for dialogue and understanding that may lead to solutions or agreements.
Will we go beyond Cold War 2.0?
The new global economic order is a system in which international relations and politics are based on economic cooperation and integration. The main goals of this system are to promote peace and conflict resolution and reduce the risk of currency wars and market turmoil. To achieve these goals, countries must work together to create a global security system. Some experts say that with Russia, China, and America’s increased willingness to cooperate, there will be a new model for world politics. The next few years may see significant changes that shift power back from the military-industrial complex to the diplomatic service. In short, we might significantly improve peace and conflict resolution if we take advantage of the opportunity to create such an economic system. Achieving a healthy and prosperous future will require more than economics; it will also require creating a new global security system.
The risks are significant — but so too is the potential for peace, prosperity, stability, and development. We can either pursue aggressive unilateralism (of American capitalism) or cooperative regionalism (economic governance by multilateral institutions). It seems clear that NATO should not be expanded further; we should try something different because the current approach has been counter-productive and ineffective. If Europe goes it alone with anti-Russian sanctions while Asia works around them, they risk a currency war between markets representing trillions of dollars in trade volume. European economies would suffer more because they rely more heavily on Russian energy exports than do Asia economies. Even worse, the transatlantic free trade zone could be threatened. The EU must reconsider its strategy towards Russia and accept a possible Chinese and Indian solution in Ukraine — especially if that could lead to higher commodity prices benefitting all nations. If Americans want Global Democracy instead of American Democracy, then Americans must start to show greater interest in understanding the mindsets of people living outside US borders. Otherwise, they will lose their dominance in world politics.
First of all, an economic system cannot be created by one or two countries alone. It must involve many nations worldwide — China, Russia, America, and Europe — all working to resolve conflicts peacefully, resolve currency wars constructively, and handle their international relations responsibly. If we fail to do so and each nation pursues its nationalistic agenda recklessly, no one will benefit from it. In fact, there is every possibility that we may experience another global financial crisis or even a war. The current structure for global governance is not working very well, as evidenced by recent economic events affecting Russia and Ukraine and our inability to adequately deal with conflicts in Syria and other parts of Africa.
For example, Europe has wasted most of its energy and efforts on useless sanctions against Russia, while Asia is doing something much more important. They are working together to mitigate China-Taiwan-related problems and keep regional conflicts down instead of aggravating them. We need some people who can see farther and have more enormous imaginations than other folks do. We must work hard and achieve success in resolving currency wars. And we need statesmen or politicians who dare to see it through by making unpopular choices — choosing what seems expedient and what ultimately makes good sense for long-term peace, security and prosperity in all nations involved (US, Russia, China).
Future Scenarios
- The future of the world economy is shrouded in uncertainty.
- The future of world politics is also uncertain.
- The Ukraine-Russia conflict could escalate into a full-scale war.
- A currency war could lead to colossal market turmoil.
- A new global security system is needed to prevent international terrorism and regional conflict.
- The current global economic order is unsustainable and needs reform.
- We need to create a new global economic order that is fair, just, and sustainable.
- The future of the world economy, politics, and security hang in the balance. If we don’t change our path now — another crisis is coming. No one knows when it will happen or what form it will take — but all agree that sooner or later, another major market crash will be practically followed by soaring inflation rates and war! However, it doesn’t have to happen if we reform the global economic order before 2023. To do this, a practical global governance framework with an equitable distribution of power must be implemented.
Our priority should be creating a global security system with that three aspects: increased transparency, decreased vulnerability to outside interference and internal manipulation, and sustainability. All countries should take part in creating this new global security regime which includes various aspects such as cultural exchanges and education, climate negotiations on environmental issues like air pollution, water scarcity, ocean pollution, climate change, refugee flows from political instability, and natural disasters; diplomacy on disputes; joint investments for development through international infrastructure projects. It is worth noting that these two aspects are not mutually exclusive, and they reinforce each other. It would be wise to adopt policies to address both effects concurrently rather than treating them separately. What kind of global security system should we establish?
There are many different opinions so I will share my thoughts based on my experience as a public policy researcher, analyst, international trade lawyer, and student of politics. Given that wars never stay at home and may quickly grow into regional conflicts, I believe the number one priority is building a cooperative international alliance (i.e., a group of nations) that can work together to control international terrorism and regional conflicts. The problem right now is that no international organization or mechanism can do this alone.
A practical global governance framework is necessary, including equitable power distribution among all countries. At the same time, any country trying to become a hegemon (exercising unbalanced influence over others) will only lead to war between nations instead of cooperation. To avoid international terrorism and regional conflict, we must foster closer relationships between Russia and Western Europe. China’s proactive measures, like the Shanghai Cooperation Organization and the BRICS initiative, can help to achieve this goal. Other possibilities include making cooperation within NATO more fluid, restructuring NATO to provide some protection against external aggression, and developing bilateral alliances between Eastern European states. In addition, democratic values and the rule of law should always be promoted as moral norms throughout all regions.
Some Thoughts on Russia-US Relations
The future of the world economy is hard to predict, but it seems that the current global order is heading towards more turmoil. In recent years, we’ve seen an increase in international terrorism and regional conflict. This has led to a lot of discussion about how to create a global security system. One idea is to have a full-scale currency war, which would cause colossal market turmoil. Another possibility is a Taiwan-China scenario, where the US comes to the aid of Taiwan if China tries to invade. Whatever happens, it’s clear that the relationship between Russia and the US will be crucial in determining the future of the world economy. For example, the Ukraine-Russia conflict is one reason there are still so many Russian sanctions vaulting countries like North Korea and Iran.
The world faces some tough challenges right now. For example, with China rising economically and militarily and Europe not wanting to give up their current status quo with NATO on their own continent because they fear Putin invading them again like Ukraine, there are big questions about what will happen next for the future of world economy. Some say that we’ll face New Global Monetary Disorder or even Market Turmoil if this trend continues! And those who understand the risks are beginning to take action.
Recently, we’ve seen tensions over the future of the world economy grow as essential questions arise. There’s been talk of a new economic order called New Global Economic Order and debates about whether or not there should be policies created such as Worldwide Macroprudential Policies for all Countries at once with no Exceptions for any Country whatsoever. Or should each country decide its way forward? While politicians debate these issues from many different perspectives, there has been an understanding that change is needed!
Some say that World Wide Macroprudential Policies might work better than just having the United States do something without thinking about everyone else too much.
A bit about China & India
The new global economic order is one in which China and India play a significant role. The two countries are currently the world’s largest economies, and their rise has led to some changes in the geopolitical landscape. One of the most notable changes is the increased tensions between China and the United States. While the two countries are not currently in conflict, there is a lot of mistrust between them. This mistrust could lead to regional conflict or even international terrorism.
International Relations (IR) describes how nation-states interact with each other, and as these relationships evolve, IR can have dramatic effects on Geopolitics (GP). The impact of IR on GP depends on whether IR is cooperative or competitive. Cooperation can create new alliances and agreements that make GP more stable, but collaboration also opens up new opportunities for aggressive moves from those who oppose it. Competition, on the other hand, can make GP unstable by making smaller countries feel vulnerable to attacks from larger ones; moreover, it can create uncertainty about allies’ commitment to agreements because they might be more interested in achieving short-term objectives than long-term stability.
Because of China and India’s rapid economic growth, their politics have become much more influential in international relations. As a result, GP has become increasingly influenced by IR. India, for example, has established new regional alliances with nations such as Japan and Australia that could increase regional conflict in Asia. The recent global economic order is one in which China and India play a significant role, but they also create instability around themselves through their political involvement. In turn, this leads to regional conflicts, like the Taiwan-China scenario, or increases the likelihood of international terrorism. It also increases competition in geopolitics among powers. Countries may start engaging in military actions for no reason other than competing interests — this is what happened when China declared an Air Defense Identification Zone over parts of East Asia.
The future of geopolitics depends on how IR develops. If India, China, and other countries continue working together to strengthen economic ties, then more economic growth can bring new stability. On the other hand, if these countries compete with each other too much and engage in military conflicts, then economic growth could be disrupted severely by market turmoil. Either way, we should fear international terrorism or regional conflict more than global war in 2022–2025.
Conclusion
The global economic order is constantly changing, and it can be difficult to predict what will happen next. However, we can make informed decisions about the future by understanding the forces at play. We should not fear international terrorism or regional conflict but focus on creating a global security system. This system will help to stabilize the world economy and prevent market turmoil. In turn, this will create new opportunities for innovation and growth in developing countries. To implement this plan of action, each country must adopt these four principles:
1) To have an inclusive approach;
2) To take immediate action;
3) To engage in open dialogue with all stakeholders;
4) To commit to achieving shared goals.
These are steps that we can take now to create a better future. We should embrace globalization rather than react against it. Our planet is interconnected, and our success depends on our ability to cooperate across borders. People have dreamed of creating a more peaceful world with a stronger economy and more robust healthier societies for centuries. Now is the time to finally achieve this goal!
Frequently Asked Questions
- What is the New Global Economic Order?
- What are the benefits of the New Global Economic Order?
- How can I help create the New Global Economic Order?
- What will happen if we don’t create a global security system?
- What is the future of the world economy, international relations, and politics?
- Will there be peace on earth or chaos in our lifetime?
- Who should establish the new global economic order?
- How do we know it will work better than before?
AUTHOR: Arindam Bhattacharya
https://orcid.org/0000-0002-7792-5445
Chairman, Advocacy Unified Network
