The Weaponisation of Economics | Figure for Article 2
The Weaponisation of Economics
The present Dossier takes stock of the current state of the multilateral system and its future prospects. It aims to explore to what extent global governance is in crisis as the global geopolitical order is undergoing fundamental shifts and liberal universalism is losing traction. It assesses potential of reform in extant institutions as well as emerging trends, tools and forums that are reshaping multilateral practice on a daily basis.
Note – The dossier was drafted before the Covid-19 world crisis.
The multipolar world succeeding US hegemony in the early 21st century, the financial crisis of 2007 and the corollary decline of liberalism seem to have ushered in an era of economic nationalism. States are increasingly left to fend for themselves as multilateral mechanisms lose traction and international economic relations gain in toxicity. The sanctions, embargoes and retaliations arising from the war in Ukraine, but also an accelerating struggle for dwindling natural resources, have pushed these logics to new heights. This Dossier assesses ongoing geoeconomic transformations and their potentially devastating consequences.
After a century marked by decolonisation and the imposition of a development model based on Western standards, Africa has entered the 21st century with a new status thanks, among other things, to its demographic dynamism (2 billion inhabitants in 2050 according to the UN, over 50% of whom will be under 25), its sustained economic growth, its extensive mineral and energy resources, and its drive for political leadership.
Additionally, since the end of the Cold War, emerging countries are successfully challenging the leadership of the West and are transforming this plural continent. If China has come to play a preponderant role, notably in terms of infrastructure development, the existence of multiple Africas presents prospects for a host of other international actors.
The continent’s development, however, is not without raising many questions, as it is still marked, in many ways, by issues of poverty and inequalities, as well as civil conflict and political repression.
The African continent is seeking more than ever to assert its autonomy of decision and action by making the most of its diverse potential. How will Africa – in its plural dimension – take advantage of this dynamism to write a new page in its history in the decades to come?
