Trend Megatrend 5: Uncertainty of the global order

Summary

The fifth megatrend describes an international order in which existing global governance stops working. Extreme self-interest among states, pandemics and geopolitical tension are breaking down the international division of labour in industry and technology while shaking the foundations of democratic institutions. Its key terms are hegemonic competition, geopolitical conflict, global governance and political instability. The report places Korea on the front line of geopolitical risk, where intensifying contests over advanced technologies and companies could force strategic choices on the country. Debates on democratic crisis and political polarisation that were dropped as a separate candidate are partly absorbed here. The megatrend contains three trends on the fracturing of global governance into blocs, complex geopolitics linking technology, economy and security, and the breakdown of political and institutional stability.