What comes after America’s retreat?
What is happening to the “rules-based international order” despairingly invoked by bewildered European leaders? The broad answer is that we are living through the retreat of American hegemony, masked by bluster and marked by contradictions. The retreat has two aspects, economic and geopolitical. Economists talk about Trump’s tariffs breaking up the free-trade order; geopoliticians about the Trump Corollary breaking up the NATO system. These are part of a single, reasonably coherent story. But the retreat is not as straightforward as it sounds. How does the bombing of Iran fit into it? What do people mean when they talk about a global “rules-based order”? The starting point must be the UN