Russian- Ukraine War and its Impact on the Current World Order

Abstract

The current world order is declining. The rapid decrease in US control and the concurrent expansion of China altered the liberal, rules-based system when first ruled by the Americas and their allies. Frequent financial meltdown, wage stagnation, revived protectionist policies, the COVID-19 disease outbreak and increasing dependence on sanctions imposed have carried the post-cold War era of internationalization to a finish. Moscow’s attack on Ukraine might have revived NATO but also reinforced the East and West divisions. In the meantime, transferring national preferences in several states and intense competition in world affairs have stopped the desire for economic cooperation and censored collaborative initiatives to deal with rising worldwide risks. The global system that will originate from such trends is difficult to forecast. However, it is simple to imagine a much less flourishing and much more dangerous globe defined by incredibly aggressive America and China relations in coming years. The Russian-Ukrain war also brought a remilitarized Europe, more forward geographic and financial alliances, a technology-based real-world split across geostrategic boundaries, and the increasing militarization of trade cooperation for geopolitical endpoints.