By Assad Bhuglah
The world is witnessing a new period of great uncertainty. Security alliances that were established in the post-World War II era are gradually disintegrating at both bilateral and multilateral levels. New coalitions such as the G8 and G20 do not have the capacity to replace them. The dominant discourse of the Washington Consensus for a broadly free market is losing prominence while various forms of neo-protectionism and economic nationalism are rapidly gaining ground. Likewise, the idealistic rhetoric of global integration is rapidly losing confidence. In the wake of rising geopolitical tensions among major global powers, rising far-right movements and xenophobia, economic protectionism and regional turf wars, nationalistic tendencies are strongly raising their heads.