Rising Nationalism Challenges Global Cooperation

Rising unilateralism in global trade poses challenges to the interconnected economic system established post-World War II. The U.S. has historically influenced international trade governance, yet current trends threaten the principles of cooperation and fairness that the WTO was built upon. Meanwhile, questions arise regarding the legitimacy of states that lack a monopoly on violence, as seen in Lebanon, Yemen, and Palestine, complicating international law's applicability. In Europe, Bulgaria celebrates its step towards Schengen membership while facing hurdles in euro adoption, contrasting with Croatia's successful integration. Additionally, a recent IMF review has unlocked funds for a country seeking economic recovery, stressing the need for legislative unity and focus amid upcoming elections. Finally, the rise of nationalism is evident globally, with leaders like Donald Trump and Javier Milei gaining prominence, raising questions about the balance between nationalism and global cooperation.