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The Doom Loop: Why the World Economic Order Is Spiraling Into Disorder

Foreign Affairs | 2026-08-18 | economy

Topics: China, Indo-Pacific, Trade, United States

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English Summary

The article argues that the global economic order is trapped in a "doom loop" polycrisis, driven by anti-globalization sentiment, democratic erosion, and intensifying geopolitical conflict. While acknowledging the structural tension between major powers like the US and China, the analysis highlights the growing influence of middle powers (e.g., India, Indonesia) in reshaping global trade and finance. To mitigate this decline, policy recommendations center on improving governance through greater government transparency and implementing robust social safety nets for displaced workers. Ultimately, breaking the cycle requires significant civic engagement and improved international leadership.

中文摘要

本文論述全球經濟秩序正陷入由反全球化情緒、民主衰退和日益加劇的地緣政治衝突所驅動的「惡性循環」複合式危機。雖然分析承認美國與中國等主要大國之間存在結構性張力,但該研究同時強調了中等強國(例如印度、印尼)在重塑全球貿易和金融體系方面影響力的日益增大。為緩解此一衰退趨勢,政策建議著重於透過提高政府透明度來改善治理,並為失業工人實施健全的社會安全網。最終而言,打破這一循環需要顯著的公民參與和國際領導力的提升。

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