Understanding the Struggle for the Control of the Global Order

Abstract

There were several indications that the current global order was being challenged during the past few years. Two key indicators of the stability of the current global order are the energy sector and the strength of the US Dollar hegemony. For example, the sliding price of oil experienced in 2014/2015 affected both the energy sector and the US Dollar hegemony. If it continued unabated, the crisis witnessed in the energy sector may have paved the way for the Global South to have taken a leading role in the global order. (An important backdrop to the current energy crisis was the global shift in military and political power towards the South, most particularly towards East Asia during this period. This shift was analysed in combination with the relative declining (economic) power and (moral) legitimacy of the United States (USA) and the move towards a more multipolar world order in which the major emerging states of the Global South—especially China—could no longer be excluded). In addition, new political power blocks and economic systems were being put in place which may have represented, on the hand, the manner in which the global order was changing but also, on the other hand, indicated changes in the global economy and future energy use. These new developments could all advance the progress and political power of the Global South and may present an actual threat to the global order led by the West. Recent measures by the USA to strengthen its economy and bolster its military powers in the South-China Sea may be seen as counter attempts to maintain the current global order. The same may be said about the aggressive sanctions on Russia by the West.