Geopolitical Shifts in the Evolving New World Order

Szapáry, György and Plósz, Dániel János (2019) Geopolitical Shifts in the Evolving New World Order. FINANCIAL AND ECONOMIC REVIEW, 18 (4). pp. 112-129. ISSN 2415-9271

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Abstract

Recent geopolitical developments point to the emergence of a multipolar new world order. Globalisation brought about by the internationalisation of trade and the diffusion of technology has radically changed the impact of world powers. A hegemon today is much better able to extend its influence and enforce its interest worldwide. The purpose of this paper is to look at what are the key requirements for a country to reach world power status in the current globalised world and discuss which countries meet the conditions to have a credible chance of becoming a dominant player in the emerging new world order. The paper concludes that China is best positioned to challenge the economic dominance of the United States. The European Union does not punch its weight in influencing global policies, and the question is whether it will be able to or want to assume the responsibilities of a world power. For the Visegrad 4 countries and the other Central and Eastern European countries, as members of the European Union and NATO that are situated at the cross roads between East and West, it is of vital interest to reflect on what geopolitical shifts one can expect in the decades ahead.

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