Threats to modern Globalisation and the prospects that economic rivalries between the USA and China will slow down this process

6 threats to Globalization: protectionist interests, ant liberal ideas, economic instability, and international rivalry,mega-terrorism,Resource Insufficiency

If the United States remains wedded to notions of global primacy rather than of a shared global order, conflict with a rising China would seem virtually inevitable. In addition, China’s rise will force uncomfortable economic adjustment on the rest of the world and it will be possible to envisage a spiral of mutual hostility that undermines the commitment to a liberal international economic order. the United States, will not tolerate a strategic rival.

But firstly China is not, at present, powerful enough to be a rival of the United States. Second, all the great powers have largely abandoned the atavistic notion that prosperity derives from territorial gains and plunder rather than internal economic development and peaceful exchange. One of the striking features of today’s war against terrorism is that all the world’s great powers are on the same side. Third, all the great powers share a commitment to market-led economic development and international economic and political integration. Fourth, global institutions and habits of close cooperation reinforce the commitment to cooperation.

the United States must find a way to deal with the three principal long-term sources of geopolitical instability: dependency on oil from the Gulf region; Islamic fundamentalism; and a rising China, where China must be told firmly that the Asian mercantilist strategy will not work for a country of its scale. At the very least, it should run a current account deficit equal to the net inflow of foreign direct investment. In the long run, it will be important for emerging-market economies to pursue policies that allow them to borrow in their own curren