How a decade of populism and impunity unravelled the post-Cold War world order
Brexit, Donald Trump’s rise and Israel’s war in Gaza signal the collapse of the post-Cold War political, economic and moral order. Populism, unchecked power, geopolitical conflict and growing economic instability are pushing the global system towards breaking point.
The post-Cold War world order, which had witnessed the fall of the Berlin Wall and the rise of globalisation, is now unraveling due to a decade-long combination of populism and impunity. The rise of populist movements, exemplified by the election of Donald Trump in the United States and the Brexit referendum in the United Kingdom, marks the end of the neoliberal era and the beginning of an "Age of Populism".
This shift is characterized by a growing disregard for global institutions and a focus on domestic economic concerns, often at the expense of international relationships.
The geopolitical consequences of this populist surge are evident in the ongoing conflict between Israel and Palestine. The 10th anniversary of Donald Trump's election and the 7 October 2023 date highlight the breakdown of the supposed "civilised" world order. The Israeli response to the Hamas massacre has exposed the depths to which the world order has fallen.
The clash between Israel, a symbol of postwar guilt and violence, and Hamas has resulted in a genocide, demonstrating the lack of consequences and moral standards in the current global climate.
The economic and geopolitical landscape has also been severely impacted. China has emerged as a global manufacturing and creditor power, leading to unsustainable economic imbalances and the creation of complex financial instruments. The resulting capital glut was channeled into dubious mortgage lending, ultimately culminating in the 2008 financial crisis. The response to the crisis was criticized for bailing out banks while shifting losses to taxpayers, creating a new era of economic instability and inequality.
This unraveling of the post-Cold War world order has left societies grappling with economic insecurity, stagnant wages, and austerity measures. The political landscape has become increasingly polarized, with voters disillusioned with the status quo and turning to populist leaders who prioritize their own economic interests over global cooperation. The collapse of this world order has revealed a profound breakdown in moral standards and consequences, paving the way for a new era of impunity and aggression.
Written by urgent.news from Daily Maverick's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
