Security, climate change at risk of overshadowing economics in new world order – The Economist
Post-Cold War gains from giving priority to economics could be reversed if the trend continues, studies suggest
A world order established in the post-Cold War era with a focus on the economy is slowly yielding to new priorities of security and climate change, an article in The Economist says.
The order that America and Europe established following the fall of the Soviet Union was an economic order “based upon open markets, global trade and limited state meddling in the economy,” writes the premier British weekly newspaper.
The policies of that era were forged when climate change was a distant threat. “Allowing countries like China or Russia into the global economy was widely seen to be beneficial for both them and their Western trading partners.” As the two economies grew by adopting market economics, the belief was they would eventually turn democratic.
