Globalization, deglobalization and Great Power politics

Abstract

Commercial liberalism would suggest that whereas globalization was conducive to great power cooperation - or at least moderated competition - deglobalization is likely to ignite greater competition amongst the Great Powers. In reality, however, the picture is much more complex. To begin with, the intense globalization of the 1990s and 2000s is not responsible for moderating Great Power tensions; instead, it is itself a product of the security situation resulting from the end of the Cold War. Furthermore, while globalization did serve to reinforce cooperation between the United States and rising challengers, such as China, which sought to harness the economic gains of globalization to accelerate their rise, it also created or intensified fault-lines that have led to heightening tensions between the Great Powers. Finally, while we are currently witnessing increasing tensions between the US and both China and Russia, deglobalization does not appear to be the primary cause. Thus, geoeconomic conditions do not drive security relations; instead, the geoeconomic environment, which is itself influenced by Great Power politics, is better understood as a medium of Great Power competition, which may affect the character of Great Power competition and its intensity, but does not determine it.