After the UK’s exit, Hungary’s turn to the East once again exposes how liberal fanaticism is tearing the EU apart — RT World News

As Western hegemony ends, the bloc may finally be forced to redefine itself as the western peninsula of Greater Eurasia.

Via Glenn DiesenProfessor at Southeastern University of Norway and editor at Russia in Global Affairs magazine.

The meeting of the Shanghai Cooperation Organization (SCO) in Uzbekistan caused an economic earthquake, as Eurasian giants such as China, India, Russia, Pakistan and Iran were integrating their economies. theirs to new heights.

Meanwhile, Turkey wants to be the first NATO country to join the group.

The aftershocks of the meeting are also being felt in Europe. More specifically, as I sit here at the Budapest Economic Forum, hosted by the Central Bank of Hungary, I can sense the Samarkand Spirit of the SCO, as an Eurasian future is being manifested.

The collapse of the international economic system

Liberal international economic systems tend to form when there is a concentration of economic power under strong leadership. With great fiscal focus, the collective West was able to function as a “benevolent hegemon” able to provide public goods and create confidence in a stable international economic order. This is the European Union that Hungary incorporated in the 1990s when the US was the sole superpower and the EU was seen as the locomotive for economic and social prosperity across the continent.

However, three decades later, the world is a very different place. The EU’s relative share in the global economy continues to decline steadily as industrial competitiveness declines, debt reaches unsustainably high levels and the future of the euro looks bleak. In the US, the economic picture and political stability issues are also cause for concern.

Nor is Brussels likely to facilitate broader cooperation. The bloc could never tolerate Russia, the continent’s largest country, sparking a resurgence of Cold War dynamics. Britain’s request to preserve the political sovereignty of national parliaments could not be met, and so Britain left the EU. Now there seems to be no room in the European tent for the conservative aspirations of Hungary and Poland. When the bloc threatened to suspend billions of dollars for Hungary, it became more difficult to preserve political independence.

As economic hegemony declines relative to one another, the international economic system begins to fragment. To protect their place in the international system, the US and EU use economic coercion against both allies and adversaries. The West disrupts the supply chains of rival powers like China and Russia to prevent their rise, while friends and allies like India, Turkey and Hungary are also sanctioned. for not showing allegiance to geo-economics. Then the unipolar era ended. The West is no longer able to function as a benevolent hegemon by providing public goods or administering an international economic system based on trust.

Eurasia is rising

The international economic system is fragmenting as the economic interdependence relationships that have formed over the past decades become weaponized. Countless problems ranging from disruptive technology, war and environmental degradation threaten the world, but the necessary cooperation is faltering. It is clear that the unipolar order has ended and a multipolar order is emerging to replace it to restore economic connectivity and restore stability.

This is facilitated by the expanding Eurasian partnership, which entails the development of a new multipolar geoeconomic ecosystem. The countries of the Eurasian supercontinent are developing connectivity between their technology hubs and financial hubs, and physically connecting them to massive infrastructure projects to shape planets. new traffic corridor.

Budapest’s goal is to become a key node in the new Eurasian geoeconomic ecosystem and restore economic connectivity in a multipolar format. Hungary is the first country in Central and Eastern Europe to sign a currency swap agreement with China and the first country in Europe to join the trillion-dollar Belt and Road infrastructure initiative. Chinese dollar. Budapest has not only connected itself closer to Asia’s growth engine, but has also established itself as a bridge between East and West.

Hungary is also resisting further sanctions against Russia to maintain access to energy resources. Simply put, Eurasia is reviving globalization.

A conservative path

Hungary’s Eurasian path is also in line with the country’s conservative aspirations. After decades of communism and the rise of Marxism, Hungary naturally sought to restore the role of national culture, the Church and traditional values ​​in its national consciousness. .

When new technology and rampant market forces cause disruption, it is necessary to balance change with continuity. Thus, conservationism holds steady in eternity by focusing on the family, faith and tradition that connect the past with the future, to prepare society for breakdown.

However, liberalism in the collectivist West is not particularly tolerant of conservative values. While the liberal nation-state was previously the means to success, liberalism has begun to decouple from the nation-state over the years. Liberal people are rapidly emancipating themselves from their own past through multiculturalism, radical secularism, leaving the recognition of the family as the main institution of a stable society and disgusted with traditional values.

In contrast, cooperation in a multipolar Eurasia does not require the export of a political system or alignment around “values”. The different civilizations in the Eurasian house pursued economic and cultural connections, while preserving their respective cultural identities. As a conservative country, it is paradoxical that Hungary has found it easier to preserve European distinctiveness in a multipolar Eurasian format.

It is hoped that Hungary will guide the rest of Europe in the transition from a confrontational unipolar order to a cooperative multipolar format – like the western peninsula of Greater Eurasia.

The statements, views and opinions expressed in this column are those of the author only and do not necessarily represent RT.

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