Eric Helleiner defines polycrisis as “a cluster of distinct crises that interact in ways that they and/or their effects tend to reinforce each other” and argues that economic globalization is experiencing a polycrisis made up of five constituent crises: the deepening trade war between the United States and China; the move towards national self-sufficiency in reaction to the pandemic; Russia’s invasion of Ukraine and consequent sanctions; trade restrictions against countries with lax regulation against climate change; and the weakening of democracy. The conjuncture of these crises as a polycrisis makes the present situation unique from other recent instances of “crisis” in the global economy.
Economic Globalization’s Polycrisis
![Complexity Complexity](https://rhhxvn7uhjqx-u5525.pressidiumcdn.com/wp-content/uploads/2023/10/Complexity.png)
Author(s)
Eric Helleiner
Publication Date
23 March 2024
Publisher
International Studies Quarterly, vol. 68, no. 2
DOI / URL
![Complexity Complexity](https://rhhxvn7uhjqx-u5525.pressidiumcdn.com/wp-content/uploads/2023/10/Complexity.png)
Resource Type
Academic Journal Article
Systems Addressed
Climate • Economy • Geopolitics and International Security • Health • Social Order and Governance