Radical Shifts in Global Balance: Geopolitics, Surging
Emerging Markets & a Wobbling Group of Seven
Costantinos Berhutesfa Costantinos, PhD
Professor
of Public Policy, School of Graduate Studies,
College
of Business and Economics, AAU
Abstract
By the year 2020, a great shift will have occurred in
the worldwide balance of economic power. Emerging market economies will become
some of the most important economic forces, and China will take the top spot in
the list of the world’s largest economies by GDP, both outright and measured in
terms of PPP, that will have broad implications for the world’s allocation of
consumption, investments and environmental resources. Emerging economies are
advancing while advanced economies are mature markets that are slowing aided by
the 2008 global financial crisis. On the other hand, cyber-attacks on Western
democracy. Countries and non-state networks are using the civil war to accomplish
their political goals with uninhibited use of force. Menacingly, cyber warfare
in the Ukrainian conflict and US elections in 2016 shows a new hotspot
dimension of the conflict (Greenberg, 2017). The US, Russia, Iran and Saudi Arabia and terror networks are all using
the Syrian conflict to wage their own fight making Syria a global battleground
(Kassab, 2016:1-3). Elsewhere, China
claims sovereignty of virtually all of the South China Sea, aggressively
fortifying its foothold by turning seven mostly submerged reefs into island
outposts that other claimants to the atolls oppose on a key waterway for world
trade (Fox, 2017).
Key
words: Emerging market economies, Syria, South China Sea, cyber-attacks, Mutually Assured Disruption, Mutually
Assured Destruction,
See lecture here or https://www.academia.edu/34069174/Radical_Shifts_in_Global_Balance_-_Geopolitics_Surging_Emerging_Markets_and_a_Wobbling_G7_-_RL_Vol_XI_No_XV_CXXIV_MMXVII.pdf