Read more
Humanitarianism was used to decouple legitimacy from legality as NATO invaded Yugoslavia in 1999. Thereafter, a debate ensued demanding an exception from international law as liberal democracies should not be constrained by authoritarian states. Even though at least 20% of the bloc’s membership aren’t even classed as such by the US state-funded “Freedom House ” NGO.
An “alliance of democracies ” was advocated as an alternative authority to the UN to legitimize the illegal invasion of Iraq, which was then reconceptualized as a “Concert of Democracy ” or a “League of Democracies ”. These ideas have developed into the “rules-based international order” as an alternative to international law.
NATO takes ownership over liberal values and thus the right and “ responsibility” to carve out its own exemptions from international law.
The collapse of the international economic system
Liberal international economic systems form when there is a concentration of power, such as under Britain in the 19th century and the US in the 20th century. The economic hegemon has an interest in developing predictability and trust for an international economic system under its administration.
However, the system fractures if it fails to adapt to the emergence of a multipolar distribution of power. The economic hegemon in relative decline will more likely use its administrative control over the system to weaken rising rivals. The subsequent collapse unravels trust and creates a demand for alternatives.
The unsustainable debt of the US and the EU has gradually weakened trust in the dollar and the Euro, while seizing the assets of Iran, Syria, Venezuela, and Afghanistan undermines trust in the entire Western-centric international financial system. The containment of rivals such as Russia and China results in the militarization of transportation corridors, while the reluctance to adequately accommodate China in the IMF has incentivized Beijing to launch parallel institutions such as the Asian Infrastructure Investment Bank (AIIB). President Trump’s economic war against China, which continued under Biden, weakened trust in the reliable supplies of American technologies and industrial products. The response was to develop greater technological sovereignty and reorganize supply away from the US.
The large-scale sanctions launched against Russia are also affecting the rest of the world in the form of an energy crisis, food shortages, inflation, and overall economic instability. The funds of the Russian Central Bank have been frozen, and the EU discusses permanently confiscating them in what could become the largest bank heist in history. The rule of law is also suspended as individuals accused of having ties to the Russian government have had their assets seized in absence of any due process. The desire to ban all Russian energy is forcing it to redirect all its energy exports to the East. Moscow has been suspended from the alleged “non-political ” SWIFT payment messaging system, and the Kaliningrad exclave has been placed under a partial blockade.
Countries that do not abide by the unilateral sanctions of the West are threatened with economic coercion. China is likely next in line as Washington eagerly promotes the idea of artificially dividing the world into two blocs, an alleged democratic bloc versus an authoritarian bloc.
The rules of the past are now non-existent and economic dependence has intolerable risks. Simply put, there is a great demand for alternative institutions that can facilitate economic recovery and pragmatic cooperation. In the East, there are rising economic giants that are more confident and determined to build international economic systems deserving of trust.
Eurasian International Institutions
Russia is no longer pursuing a Greater Europe from Lisbon to Vladivostok in which Russia feeds the continent and supplies natural resources for European industries, and in return imports Western technologies and industrial products. The Greater Eurasian Partnership is no longer an instrument for merely diversifying economic connectivity but has now become a necessity for a complete economic divorce from the West.
Read more
The Shanghai Cooperation Organisation (SCO) continues to aspire to develop further economic competencies and will likely accept Iran as a new member in September. BRICS is also ramping up for a greater role in economic recovery and is preparing to accept Argentina and Iran as new members. The Eurasian Economic Union (EAEU) has developed slowly, although there are new incentives for common regulatory acts to enhance autonomy and stability in an increasingly chaotic world.
The balance of power across the multipolar Greater Eurasia results in several commonalities among the Eurasian international institutions. These organizations focus on the principle of sovereign equality and international law in accordance with the UN Charter. Competing interests among the different poles of power ensure that these institutions are focused on security with other members, instead of security against non-members. The values tend to center on common prosperity as stipulated by the “Shanghai spirit, ” while eschewing values that can be used to impose sovereign inequality. The multipolar international distribution of power in Greater Eurasia also prevents a centralized international economic system and instead focuses on the “integration of integrations”.
For the foreseeable future, Russian weapons will be pointing towards the West, and Russia’s economic connectivity will be directed towards the East. Although, in the longer term the Eurasian international institutions should also be tasked with restoring cooperation with Western economies.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of RT.
Source