Summary
This article discusses the disintegration of the liberal international system. While the economy looks tranquil, there are problems that underlie within the global economy. The problem is that without this system, the global economy is likely to fall into a violent anarchy. Power becomes arbitrary and institutions aren’t functioning sufficiently. We’ve seen a fall like this after WWI: it is definitely possible we see another one. On the surface, the original system looks flawed, with the US taking undue power. However, the truth is that countries around the world have benefited from it. Collaboration will be hampered without stability. It seems like a new system could take place, but The Economist doubts it.
Vocabulary
Untrammelled: not restricted or hampered; unrestricted or uninhibited.
Example sentence: The artist’s imagination was untrammeled by convention, allowing her to create truly innovative works of art.
Buttressed: supported or strengthened by a buttress, a projecting support of stone or brick built against a wall.
Example sentence: The argument was buttressed by a wealth of evidence, making it difficult to refute.