Part 7/15:
Discussions across multiple panels centered on the "Contours of a New Economic Order", acknowledging the decline of Western institutions like the International Monetary Fund (IMF) and the World Bank—traditional pillars of U.S. dominance. Experts like Prof. Jeffrey Frerieden noted that the current global chaos signifies a transition away from American-led globalization.
Simultaneously, critics like Prof. Anguan Yuen argued that the “reindustrialization” seen in Western nations is driven more by populism and national security concerns than economic fundamentals. Developing countries that industrialized before the globalization slowdown might now need to pivot towards domestic consumption or alternative growth models—yet political uncertainty and economic volatility hinder this transition.