Balvinder Ruby
This book analyses the factors that led to the Cold War between the liberal democratic capitalist bloc led by the United States and the communist, socialist bloc led by the former Union of Soviet Socialist Republics (USSR) after the two world wars. They faced off against one another to keep a check on each other’s strength. With the Soviet Union’s demise, the United States became the world’s lone arbiter in terms of geopolitical and economic stability.When the supply chain from China collapsed during the COVID-19 pandemic, it became painfully clear that the world relied on China for almost all manufactured goods.The US and other western countries’ promotion and pursuit of globalisation to access emerging markets resulted in their loss of industrial and service sector jobs and contributed to China’s rise as the world’s industrial hub and the decline of US dominance.Globalisation aided by fast-paced IT and telecommunications advancements diluted nation-state sovereignty, corporatising democracies and creating powerful transnational corporations.
