How Geopolitics, Globalization, and AI Redefined 2024

2024 has been chaotic with upheavals and downdrafts. Although this year a record number of countries went to the polls, they have frequently turned inwards with barriers and nativism.

- RAJESH MEHTA

2024 has been chaotic, with upheavals and downdrafts. Although a record number of countries went to the polls this year, they frequently turned inward, with barriers and nativism. Global growth has been affected, reaching only 3.2%. Global governance has eroded, with ever-sharper divisions between factions. With this retreat in globalization, 2025 looks bleak. US-China rivalry may diminish global economic growth, and the divisions between the Global North and Global South have only deepened. Traditional norms are under stress, and new groupings are emerging. Climate promises have faced another round of battering and disillusionment.

The one clear ray of light has been the advancement of critical technology development, especially artificial intelligence. AI agents are heralding a new era of technological development that is anticipated to lead to a period of abundance in the future. The future of international cooperation looks increasingly under stress. The conflict in Ukraine and in Israel has exposed sharp disagreements even within groupings like NATO and member countries that are signatories to the ICC. The ongoing onslaught in Ukraine has culminated in the rise of a new axis—that of Russia, China, Iran, and North Korea—which are now cooperating and integrating with each other like never before.