Geoeconomics

When the effects of the COVID19 pandemic revealed the fragility of global supply chains, people quickly began to talk of a process of »de-globalisation«. The rise of China has led some politicians and commentators to demand protectionist measures. And against the backdrop of growing international tensions, many feel we are witnessing a return of geopolitics.

Milan Babić, however, believes it is overly simplistic to conclude from this that neoliberal globalisation is over and that the (nation) state is back. States are not abandoning transnational networks just yet. Rather, we are experiencing a regionalisation that is in part a response to economic imperatives. And when it comes to the battle for global infrastructure, private enterprises continue to be key players. According to Babić, anyone who wants to understand the emerging world order must therefore look at it from the perspective of geoeconomics.