<p>Bengaluru: US President Donald Trump epitomises uncertainty, and people need to recognise that in his pursuit of changes in the world order, he might be introducing a new world disorder, remarked well-known economist Deepak Nayyar in Bengaluru on Thursday.</p><p>He was delivering a lecture, 'From Pax Americana to Pax Mysteriana', on the political economy of a changing world order at the Bangalore International Centre, noting that at this juncture, there is "no single country that can create a new world order".</p><p>A multipolar world is most probable, with China, USA, India and at least seven other countries working as key players. But this period in time could be a turning point for the world order and the "beginning of the end of dominance of the United States (of America) in the world", Nayyar said.</p>.Police hunt for four involved in rowdy-sheeter’s murder in Bengaluru.<p>In his opinion, the World Trade Organisation seems to be at a dead-end, the United Nations has lost credibility, globalisation is at risk and politics between countries are contentious and polarised, geopolitical divides are sharper than they have been in decades and international relations are strained, creating "the most difficult economic and political" situation today.</p><p>Added to this, governments' response to the Covid-19 pandemic was driven by perceived national interests by shutting borders and accumulating vaccines, he said.</p><p>"The most effective response would have been international cooperation, instead of a myopic pursuit of illusory national interest," said Nayyar.</p><p>The change in the share of the East, the West, and the South country groups in world GDP reveal clear trends, he noted. This, coupled with and affected by the widespread resurgence of nationalism and multiple ongoing geopolitical crises, including the Russia-Ukraine war and Israel-Hamas conflict, have disrupted global movement of crucial goods, affecting the poor and marginalising many.</p><p>Nayyar pointed out that the rise of developing Asia, particularly China, has "slowly chipped away at the economic dominance and political hegemony of the United States and Western Europe". Additionally, the decline of Western Europe is discernible, and the globalisation of Islam also seems to challenge the western hegemony.</p><p>In all this, he dissected several of Trump's declarations and decisions, which Nayyar noted were suggestive of Trump having no desire or intention to preserve the world order established by the US in the late 1940s.</p><p>In a conversation with Nitin Pai, co-founder and director, Takshashila Foundation, the economist also highlighted that Trump’s decisions are a wake up call for western Europe, which must reinvent itself and rethink its strategies to survive.</p>
<p>Bengaluru: US President Donald Trump epitomises uncertainty, and people need to recognise that in his pursuit of changes in the world order, he might be introducing a new world disorder, remarked well-known economist Deepak Nayyar in Bengaluru on Thursday.</p><p>He was delivering a lecture, 'From Pax Americana to Pax Mysteriana', on the political economy of a changing world order at the Bangalore International Centre, noting that at this juncture, there is "no single country that can create a new world order".</p><p>A multipolar world is most probable, with China, USA, India and at least seven other countries working as key players. But this period in time could be a turning point for the world order and the "beginning of the end of dominance of the United States (of America) in the world", Nayyar said.</p>.Police hunt for four involved in rowdy-sheeter’s murder in Bengaluru.<p>In his opinion, the World Trade Organisation seems to be at a dead-end, the United Nations has lost credibility, globalisation is at risk and politics between countries are contentious and polarised, geopolitical divides are sharper than they have been in decades and international relations are strained, creating "the most difficult economic and political" situation today.</p><p>Added to this, governments' response to the Covid-19 pandemic was driven by perceived national interests by shutting borders and accumulating vaccines, he said.</p><p>"The most effective response would have been international cooperation, instead of a myopic pursuit of illusory national interest," said Nayyar.</p><p>The change in the share of the East, the West, and the South country groups in world GDP reveal clear trends, he noted. This, coupled with and affected by the widespread resurgence of nationalism and multiple ongoing geopolitical crises, including the Russia-Ukraine war and Israel-Hamas conflict, have disrupted global movement of crucial goods, affecting the poor and marginalising many.</p><p>Nayyar pointed out that the rise of developing Asia, particularly China, has "slowly chipped away at the economic dominance and political hegemony of the United States and Western Europe". Additionally, the decline of Western Europe is discernible, and the globalisation of Islam also seems to challenge the western hegemony.</p><p>In all this, he dissected several of Trump's declarations and decisions, which Nayyar noted were suggestive of Trump having no desire or intention to preserve the world order established by the US in the late 1940s.</p><p>In a conversation with Nitin Pai, co-founder and director, Takshashila Foundation, the economist also highlighted that Trump’s decisions are a wake up call for western Europe, which must reinvent itself and rethink its strategies to survive.</p>