7/29/2020

After Coronavirus: A Recent Atlantic Council Analysis




Source: EPRS
July 2020


Summary

The Atlantic Council’s analysis starts from the assumption that the coronavirus pandemic is delivering a substantial shock to the post-war order, established by the United States and its allies. For the past 75 years, they have led a rules-based system predicated on liberal democratic values, an open global economy, and formal institutional bodies backed by powerful democratic states. The study argues that a downturn in Western economies could boost a rising China, while a global depression could breed support for protectionism. International bodies designed to safeguard public health appear weak and unable to contain the crisis, and alliances with transatlantic partners are fraying as nations turn inward and close borders. Sustaining and revitalizing the rules-based order that has guaranteed freedom, prosperity, and peace for decades requires a decisive global and US-led response to the pandemic’. It concludes that, in a context where coronavirus might become entrenched, US-China rivalry could continue to intensify and go global’, setting up pressures that could destabilise the European Union and endanger the US' alliance system in Asia. In response, it argues that America, Europe and China can and must respond to the emerging situation by cooperating to develop a positive, global 'new normal'.



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