The rules-based global order, its institutions and value system face a crisis of legitimacy and credibility as the US turns away

โ€˜The old world is dying,โ€ Antonio Gramsci once wrote. โ€œAnd the new world struggles to be born.โ€ In such interregnums, the Italian Marxist philosopher suggested, โ€œevery act, even the smallest, may acquire decisive weightโ€.

In 2025, western leaders appeared convinced they โ€“ and we โ€“ were living through one such transitional period, as the world of international relations established after the second world war crashed to a halt.

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