Saturday, December 9, 2023

World order

As WW 2 came to an end world leaders tried to bring all countries together to prevent further wars. The main idea was that if countries were dependent on one another economically they would be less likely to go to war. This led to various agencies designed to promote cooperation and peaceful coexistence First came the World Bank and the International Monetary Fund in 1944 and this was closely followed by the United Nations in 1948. This sort of thing continued with the World Economic Forum in 1977 and the World Trade Organization in 1995 and the International Criminal Court in 1999. The stated goal was to promote global peace and prosperity, including governance of international security, trade and monetary policy all forming a part of the liberal world order. This was all part of what became known as globalization and was fostered by political leaders and large corporations. The results were clear. The rich got richer and the middle income groups suffered. The super poor were winners as they moved out of poverty. The first crack in this grand world order came in 1991 when the Soviet Union collapsed and the second was the election of Trump in 2016. He was an outsider and not part of the globalist group. He saw how China manipulated their currency and subsidized their industry to push others into bankruptcy. Trump placed tariffs on China and these were continued under Biden. The rich and powerful who had been gaining control since 1944 now found it harder to maintain their positions. They will not go quietly.

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