The New Frontiers of Risk | Figure for the Issue
The New Frontiers of Risk
PODCAST | La globalisation des diversités – Fabrizio Sabelli
Research Office, The Graduate Institute, Geneva.
The New Frontiers of Risk
Research Office, The Graduate Institute, Geneva.
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.
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.
Has globalisation reached its apex after centuries of growth as suggested by the latest figures of the WTO? In the affirmative, does this imply that we are ushering into a new era of degrowth? Or are we witnessing the reorganisation of the very architecture of globalisation, which remains based on the twin logic of the acceleration and continuous increase of the volume of exchanges, as well as the steady densification of geographic connectedness. Are global exchanges restructuring concomitantly to the fourth technological revolution and the expansion of the digital economy? The present Dossier proposes to approach this question by observing the nature and the evolution of the principal flows that characterise globalisation.
