The De-Westernisation of Globalisation

Author(s): Jonas Grätz
Editor(s): Oliver Thränert
Series Editor(s): Andreas Wenger
Book Title: Strategic Trends 2013: Key Developments in Global Affairs
Series: Strategic Trends
Publisher(s): Center for Security Studies (CSS), ETH Zurich
Publication Year: 2013
Publication Place: Zurich

Global economic integration is unprecedented. However, the appeal of globalisation is fading. As growth emerged as the main focus of Western political leaders, they are now changing the rules to rein in globalisation. New borders to investment have been erected and free trade agreements with selected partners increasingly replace global rules. Money supply has been increased to fuel growth, but this helps to distort markets and elevates future risks. Power moves to the forefront and economic and national security concerns are again perceived as being interlinked. Whether the West can regain global leadership will depend on its ability to solve domestic problems and reformulate a coherent economic agenda.

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