Template-Type: ReDIF-Article 1.0

Author-Name: György Szapáry
Author-Workplace-Name: Magyar Nemzeti Bank
Author-Email: szaparygy@mnb.hu
Author-Person: psz20

Author-Name: Dániel János Plósz
Author-Workplace-Name: Hungarian Central Statistical Office
Author-Email: Daniel.Plosz@ksh.hu

Title: Geopolitical Shifts in the Evolving New World Order

Abstract: Recent geopolitical developments point to the emergence of a multipolar new
world order. Globalisation brought about by the internationalisation of trade and
the diffusion of technology has radically changed the impact of world powers.
A hegemon today is much better able to extend its influence and enforce its interest
worldwide. The purpose of this paper is to look at what are the key requirements
for a country to reach world power status in the current globalised world and
discuss which countries meet the conditions to have a credible chance of becoming
a dominant player in the emerging new world order. The paper concludes that
China is best positioned to challenge the economic dominance of the Unites States.
The European Union does not punch its weight in influencing global policies, and
the question is whether it will be able to or want to assume the responsibilities
of a world power. For the Visegrad 4 countries and the other Central and Eastern
European countries, as members of the European Union and NATO that are situated
at the cross roads between East and West, it is of vital interest to reflect on what
geopolitical shifts one can expect in the decades ahead.

Classification-JEL: O10, O20, O30
Keywords: hegemony, world order, Visegrad Countries, United States of America, China, Russia
Pages: 112-129
Volume: 18
Issue: 4
Year: 2019
File-URL: http://en-hitelintezetiszemle.mnb.hu/letoltes/fer-18-4-e1-szapary-plosz.pdf
File-Format: Application/pdf
Handle: RePEc:mnb:finrev:v:18:y:2019:i:4:p:112-129