Forging a new economic order

International politics has always been a ruthless and dangerous business, and it is likely to stay that way, according to Chicago University’s US scholar John J. Mearsheimer. In the introduction of an updated edition of his book, ‘The Tragedy of Great Power Politics’, he writes: “Since no state is likely to achieve global hegemony, the world is condemned to a perpetual great power competition. “There are no status quo powers in the international system save for the occasional hegemon that wants to maintain its dominant position over potential rivals.” He notes that the desire of a state for more power does not go away. The ultimate aim is to be a hegemon — that is the only great power in the system.’ In the above backdrop, one can see the global financial, political and economic order in a state of chaos and flux.