The United States has been the biggest beneficiary of changes in the international order over the past century. Four key factors have contributed to its current hegemony.

America’s approach has not only cost it the Global South but has also created divisions in the north. The uncertainties are increasing. The United States is, in fact, losing the entire world, which may be the inevitable fate of all empires.

Multipolarity has become a buzzword in global affairs with due credit to countries in the Global South taking strides toward establishing power independent of the U.S. or China. As developing nations demand a bigger share of voice, what challenges will they face?

Now that the United States has introduced a new set of import tariffs on Chinese goods, the world’s two largest economies appear to be on the brink of open economic warfare – and developing countries are in danger of getting caught in the crossfire. Beyond the risk that they could face sanctions or other trade restrictions if one superpower perceives them to be helping the other, Sino-American trade tensions are eroding the value of many of these economies’ comparative advantages, such as cheap labor and land. Coping with these challenges will require skillful economic statecraft.

The Biden administration’s new tariffs on Chinese goods are primarily symbolic and political, with negligible economic impact, but they aim to protect and foster the U.S. clean energy supply chain, particularly in the EV sector. However, the tariffs are politically motivated and could undermine industrial policy goals by focusing on geopolitical competition rather than applying uniformly to all countries.

China is deeply intertwined with Saudi Arabia and other GCC countries. It is contributing to regional security and will be one of the major sources of the region’s future wealth. And, unlike the West, it will always respect the way of life in the region, including the dominant religion.

Despite their positive aspects, globalization, multi-polarization and technological advancement come with pronounced negatives that pose challenges to the post-Cold War world order. The only way forward is for the West to cooperate with China and engage in active and candid dialogue.

Sustainable peace in the Middle East — in particular between Israel and the Palestinians — will require meaningful change in Palestine’s status: Its sovereignty must be established and recognized. A unified push by China and the United States to that end would be an important guarantor of success.

Despite its name, the new Washington Consensus has the adverse effect of impeding the formation of real consensus because of its underlying zero-sum mindset. It is simply an instrument for the United States to maintain its hegemony in the world arena, and that is destructive to the international order.

When discussing the global order and China's foreign policy, we must examine how China adapts its foreign policy to changes in the global order. There is a debate on whether we are returning to a Cold War-like situation. Many believe we are, drawing parallels between the current U.S.-China competition and the former U.S.-Soviet rivalry, which shaped the international power structure.