Online ISSN 2286-0266
Print ISSN 1223-0685
Copyright © 2020
Œconomica by SOREC
 
Narciz BĂLĂŞOIU
Academia de Studii Economice din Bucureşti
An axiom of international relations attests to the fact that after the “Thirty Years’ War” and the Westphalian Peace of 1648 the world is governed by a system of rules that is unanimous accepted, in an obvious or tacit manner, by all actors of the international system. Currently, there are many challenges to the Western rules-based international system, among which worth mentioning the Brexit and the election of President Trump to the White House. Despite strong rules and well-developed institutions, the West has been built and continues to build on strong compromises between the US and its allies. President Trump’s controversial stance around Article 5 of the NATO Treaty could change that. From economy to security, everything is going to be affected. If rules based systems can evolve in such a way as to contribute to international peace and prosperity, this new design must be based on a full understanding of the realities of power at the international level, but most importantly, on full understanding that these rules have to be the extension of a pragmatic new reality.


ŒCONOMICA no. 1-2/2020
Keywords: rules-based international system, US leadership, interdependence, China, international organizations
JEL: F01
Challenges and Perspectives on the International Rules-Based System