Liberal international economic order
From The Art and Popular Culture Encyclopedia
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"It is not a death wish but hubris that has destroyed the liberal world order. [...] Sensational stories of Europe committing suicide only add to the febrile climate of the time. The Hapsburg satirist Karl Kraus wrote of psychoanalysis that it was the disease of which it purported to be the cure. Murray’s book is a symptom of the disease it pretends to diagnose."--"How deep is the decline of the West? " (2018) by John Gray[1] |
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In international relations, the liberal international (economic) order (LIEO, LIO), also known to the G-20 as the rules-based international order, or the US-led liberal international order, is a notion that contemporary international relations are organized around several guiding principles, such as open markets, multilateral institutions, liberal democracy, and leadership by the United States and its allies. The order was established in the aftermath of World War II, and is often associated with Pax Americana.
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