The Weaponisation of Economics
PODCAST: The Economic Weapon in Global Governance, with Nicholas Mulder
Geneva Graduate Institute
© Chappatte dans NZZ am Sonntag, Zürich
Geneva Graduate Institute
While the global balance of power, under the impetus of the steady rise of China, is shifting towards the Asia-Pacific, and because the future of US policy is uncertain after the election of Donald Trump, tensions in the South China Sea have once again become a major strategic concern. The South China Sea is witnessing a series of sovereignty disputes between littoral states defending rivalling claims to maritime rights and boundaries. Adding weight and urgency to the disputes are the significant natural resources found in the coveted archipelagos and sea beds as well as the rising national sentiments in many of the claimant states. The geostrategic dimension of these quarrels is largely transcending the region and the involvement of external powers such as the United States further complicates the equation. The recent legal victory of the Philippines over China can be seen as a supplementary cause for anxiety in a latent conflict that may at any time escalate into a regional or global confrontation. Henceforth the search for a negotiated solution becomes crucial as military budgets continue to soar in the region.
Neoliberal globalisation has not only transformed the role of the state; it has also shaken up the internal “DNA” of education policies, from schools to universities. New technologies have paved the way for new forms of transmitting knowledge; calls to decolonise curricula are growing louder; in the South, many countries face the challenge of financing public education policies in an era of new public management, while the model and transfer of these policies have become a key problem, compounded by the exclusion of historically marginalised populations and the advance of private and religious players. Against this backdrop of criticism of the public education model, the present Dossier seeks to better apprehend what could be done to restore the purpose and meaning of education and universities.
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.