The world is currently experiencing a Geopolitical recession, characterized by shifting power dynamics and tensions, as noted by the World Economic Forum.
About Geopolitical recession:
- Political scientist Ian Bremmer defines a geopolitical recession as a period where established global power frameworks crumble, and institutions fail to align with the changing balance of power.
- During such periods, responding to crises becomes more challenging as political institutions weaken.
- The current geopolitical recession is attributed to the rise of China and the Global South, coupled with a decline in economic power in Europe and Japan.
- Additionally, trade tensions between the US and China contribute to the current geopolitical landscape.
Ref: Source
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