The article discusses a significant shift in the global order, largely attributed to the policies enacted during the Trump administration's first year. This shift has led to the diminishment of traditional international institutions such as NATO, the United Nations, and the World Trade Organization, along with the erosion of established trade regimes and alliance assumptions. The article highlights a move towards transactional relationships and a disregard for "soft power."
This transformation is not solely driven by leadership decisions but is also a reflection of deep-seated political shifts to the right in Western electorates, evident in countries like the Netherlands, Germany, and Italy. The retreat of liberal values is noted, creating widespread uncertainty about how nations like China and North Korea might react and potentially exploit this new world order. The discussion, featuring prominent policy and business leaders at the DealBook Summit, aimed to understand the current global landscape, the real-world consequences of these policy changes, and their potential long-term impact.