Where is the world heading; As globalization stumbles...

It is a concrete reality that in the 21st century, where globalization has been proceeding at full speed, it has influenced the change and transformation of nation-states. Factors such as the globalization of financial and industrial markets, the ever-growing e-commerce sector, the effects of advancing technology and digitalization on state structures, and the effective presence of the European Union have caused the central bureaucratic structures of many nation-states to shrink, become more transparent, grow more flexible, and even move away from centralization.

It can be said that in countries remaining outside the globalizing system, economic and social problems have increased, and exclusion from the system has triggered poverty and migration. With the exception of a few countries, it was not possible to survive without keeping pace with globalization.

However, all known conventions regarding globalization were turned upside down by the Covid-19 pandemic. After the Covid-19 crisis, the situation changed as international solidarity failed to materialize to the expected extent, and countries felt the undeniable advantages or disadvantages of their geopolitical positions to their very core.

The importance of domestic self-sufficiency for countries, along with the rise of logistics and security, caused nation-states to don their steel armor once again.

Look at the Global Risks Report published by the World Economic Forum in 2022, following Covid-19; according to the report, the most serious global risks for the next decade consisted of topics such as the climate crisis, volatile and sudden weather events, loss of biodiversity, livelihood crises, infectious diseases, natural resource crises, debt crises, and geoeconomic conflicts.

The report, which specifically touched upon China's steadily increasing financial, technological, and scientific progress in the region, stated that geopolitical tensions had also spread to the economic sphere. The increasing difficulties Western countries faced in doing business with China and Russia led to geoeconomic rivalries being defined as a significant threat in the medium and long term. In this context, the report stated that geopolitical and geoeconomic tensions would make it even more difficult to cope with common global challenges, especially climate change.

The shift of nation-states toward greater domestic self-sufficiency after Covid-19 created a sense of skepticism toward globalization. The narrowing focus of national interests caused nation-states to turn more inward and prioritize ensuring domestic self-sufficiency by developing their own resources. With the pandemic crisis, geopolitical competition had now gained momentum.

To correctly read the developments taking place in the world today, it is important to return to key breaking points and take a look at what was written and predicted during those times. The pandemic is one of these important breaking points. Now, globalization, which has been stumbling since Covid-19, is hitting the barriers of nation-states. It views geoeconomic rivalries as a threat.

Moreover, this tough struggle and the pains it creates do not seem likely to end anytime soon.