منوچهر دراج

This paper draws attention to some of the consequences of the decline and possible slump of the liberal world order, while focusing predominantly on factors that have divided the Western world, most notably the toxic rise of nationalism, nativism, populism, authoritarianism, anti-institutionalism, anti-immigrant, and anti-globalization sentiments.  We argue, that as the United States further embraces economic nationalism and protectionism under the Trump administration, the support for multilateral institutions, rooted in the liberal order, is likely to significantly retreat.  The dissolution of the liberal order will arguably pave the way for political disorder across the globe, while at the same time dividing the Western world at a time when an economically resurgent China, in a strategic alliance with a more assertive Russia under Putin, is likely to pose new challenges to the West.  Their rivalries notwithstanding, both Beijing and Moscow are likely to seek ways to improve their bilateral relations with Washington in order to curtail and better manage regional and global tensions.   It is worth noting that the risks of abandoning a liberal world order, which for more than seven decades has espoused relative prosperity, as well as a legal and institutional framework for conflict resolution, may prove to be enormously damaging and consequential.