What if the bipolar international system were still in place?
Alas, we do not reside in an alternate history. So, today, the US has to accept being the first among equals in a multipolar global set-up
ON SEPT 13, 1989, a few weeks before the fall of the Berlin Wall, then US deputy secretary of state Lawrence Eagleburger, addressing an audience at Georgetown University in Washington, DC, cautioned his listeners that while they were celebrating the end of the Cold War, they should also recognise that "we are moving into, or I should say, back into - for such has been the nature of international affairs since time immemorial - a world in which power and influence is diffused among a multiplicity of states".
Yes, suggested the veteran Cold Warrior, Americans may (and perhaps should) be feeling victorious that the Soviet bloc was in the process of disin…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Columns
An overstimulated US economy is asking for trouble
Too many property agents? Cap commissions on home sales
Time to study broadening of private market access
China’s better economic growth hides reasons to worry
In AI-copyright battle, an existential crisis emerges
Europe shows diversifying from China’s economy is hard to do