Rules-Based International Order
Description
By the editors of the Monthly Review:
"What the Joe Biden administration has called the “rules-based international order” stands for those institutions of world governance that were created under the control of the United States during its period of undisputed economic hegemony after the Second World War and during the subsequent unipolar order following the demise of the USSR in 1991. The rapid decline of U.S. power in the twenty-first century, associated both with the economic stagnation of the core capitalist countries and the rise of China and other emerging economies, is now calling into question the entire U.S.-dominated rules-based international order. Seeing the writing on the wall, Washington launched its New Cold War on China in 2018, aimed at regaining undisputed U.S. hegemony and unipolarity."