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In between International Orders – An Era of Instability: The Need for a Reform Agenda and a New Narrative

Author

Listed:
  • Michael Reiterer

    (The Vienna Institute for International Economic Studies, wiiw)

Abstract

While Russia’s war of aggression on Ukraine is shaking the liberal international order, the Global South is using the occasion to demand overdue reforms and complaining about the neglect of its acute structural problems. Alternative organisations, such as BRICS, the Shanghai Cooperation Organisation and various new development banks, are stepping out of the shadows. At the same time, efforts to achieve more economic security by making supply, production and value chains more resilient are also offering a chance for change – if well steered – to prevent industrial policy at home from turning into protectionism abroad.

Suggested Citation

  • Michael Reiterer, 2024. "In between International Orders – An Era of Instability: The Need for a Reform Agenda and a New Narrative," wiiw Policy Notes 75, The Vienna Institute for International Economic Studies, wiiw.
    • Handle: RePEc:wii:pnotes:pn:75
    as

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    File URL: https://wiiw.ac.at/in-between-international-orders--an-era-of-instability-the-need-for-a-reform-agenda-and-a-new-narrative-dlp-6836.pdf
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    More about this item

    Keywords

    BRICS; Global South; Economic Security; Indo-Pacific; managing change;
    All these keywords.

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations
    • F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements

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