How is this “an important challenge/ or not”  to the Western World and liberal democracy? 

hort Reflection Essay on Globalization

This is an open book/open note reflection paper, which will be uploaded to Canvas, not exceeding 900 words.  It will be based on the lectures and readings on globalization that center around two pivotal challenges that the world is living through. The first is the rivalry between liberal capitalism, the liberal meritocratic one, led by US and the advanced industrial democracies vs a state-led, illiberal, political one headed by China. The second challenge is about rebalancing of economic power between the West and Asia; in 1970s, West produced 56% of world economic output and Asia produced 19%. In 2020 the proportions were 37% to 43%. How is this “an important challenge/ or not”  to the Western World and liberal democracy?

Resources used in the Reflection should be cited.