The 20th century’s international order, which installed the United States, Europe and Japan in dominant positions, is ending. New powers are emerging to challenge a system arranged within the framework of U.S. and European multilateralism. Transitional processes necessarily breed chaos and uncertainty. This is the global situation to which our economies and political systems must adapt.
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Focus Germany: Future of the French-German tandem
Brexit has raised expectations of renewed attempts at joint Franco-German leadership of the EU. Without Britain’s leveling role, however, the EU’s prospects under the Berlin-Paris tandem could depend on compromises between German ordoliberalism and French economic interventionism. Smaller member states are concerned that their interests would be shunted aside.