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Trade wars and the changing international order: a crisis of globalization?

Author

Listed:
  • Mihaylov Valentin
  • Sitek Sławomir

    (Institute of Social and Economic Geography and Spatial Management, University of Silesia in Katowice, Sosnowiec, Poland)

Abstract

Increased geopolitical competition and growing economic nationalism after 2014 have gradually started to slow the trend of liberalization of international trade. Relations among certain national states have turned into trade wars – a hybrid phenomenon shaped at the intersection of geopolitics and geoeconomics. The paper explores global and regional trends in trade regulations introduced by the world's largest economies and, at the same time, its major military powers. The G20 countries’ role in these processes was illustrated through references to empirical data on the dynamics of the introduced trade regulations in 2009–2018. The effectiveness of the regulations index is proposed. Apart from the harm that deepening such negative trends in the global geostrategic balance does to broader bilateral relations, the role of trade wars in re-shaping globalization's established conditions is also discussed.

Suggested Citation

  • Mihaylov Valentin & Sitek Sławomir, 2021. "Trade wars and the changing international order: a crisis of globalization?," Miscellanea Geographica. Regional Studies on Development, Sciendo, vol. 25(2), pages 99-109, April.
    • Handle: RePEc:vrs:mgrsod:v:25:y:2021:i:2:p:99-109:n:4
    DOI: 10.2478/mgrsd-2020-0051
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    Keywords

    Geoeconomics; geopolitics; globalization; G20; trade wars;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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