Globalism is now faltering. The international community can neither exert its power to block the Syrian government forces from taking repressive actions nor take any effective steps to deter nuclear developments in Iran and North Korea. Security deterioration continues in Iraq while threats of terrorism remain in Afghanistan and Pakistan. The Israeli-Palestinian confrontation is in a critical situation and the Yemeni civil war shows no sign of settlement.
These developments are taking place against the background of the United Nations' failure to fulfill its original function of ensuring security around the world. The deterrence of the United States is weakening and both Russia and China are maneuvering to place priority to their national interests.
In the economic arena, equalization of national power has helped to deepen polarization and the Group of Eight has passed on its role of discussing global economic issues to the Group of 20. But no effective measures have been worked out yet to cope with the serious financial crisis and business recession confronting the world. In addition, the European Union's sovereign debt risks have destabilized the euro system and put international financial markets into confusion.
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