Geopolitical Transition: From Rule-Based to Deal-Based Order

"The shift from a rule-based to a deal-based order marks a significant transformation in global governance." The international order that emerged after the Second World War was underpinned by a “rule-based” system governed by multilateral institutions, legal norms, and collective decision-making mechanisms. Institutions such as the United Nations (UN), the World Trade Organisation (WTO) , and the I nternational Monetary Fund (IMF) played crucial roles in mediating global interactions. However, in recent years, this system has increasingly given way to a “deal-based” order, wherein bilateralism, transactional diplomacy, and power politics have superseded universal norms (Acharya, 2017; Allison, 2018). Erosion of Multilateralism Multilateral institutions are facing a crisis of legitimacy and functionality. For instance, the WTO's appellate body has been rendered inoperative since 2019 due to the United States blocking judicial appointments (Bown, 2020). As a result, trad...