On the one hand, the world is changing so fast today while in Friedman's word The World Is Flat. 21st century's world has seen some radical changes and analysts says it is the Asia's century. China's president Xi Jinping proclaimed 21st century as 'decline of the west and rise of the east'.
As we see the current world order, one can easily say that US hegemony is declining and new powers are emerging whether they are economic power or military advanced countries or fast growing economies like Indonesia, Mexico, Turkey, Brazil etc. The world of China, EU, BRICS, IBSA seems more attractive to read and study today. China's Dragon, India's Elephant, Asian Tigers are doing far better than so called developed economies of US, Britain , France and Japan. Today, economic dependence is playing a key role in world affairs and the focus of international study has shifted to Geo economy from Geo Politics. Thats the world of 21st century where global threats of terrorism, climate change are arising and the security of people seems more vulnerable and one can assume that no nuclear power can face these challenges with its missiles or nuclear war heads or submarines. The world of 21st century is the world of Globalisation, Liberalisation and Privatisation.
If we try to find out the current scenario of today then we see the movements of democracy from middle east to Hongkong ( started with Arab Spring) , terrorism from Canada to ISIS in West Asia and in China too, Africa is suffered with civil wars and with the poor development of society and the developed world is weakening with the US meltdown and EU Sovereign crisis.
Earlier world after Soviet Collapse was called the unipolar world with US as a super power but today’s events such as Crimea’s annexation by Russia, Civil war in Syria, Fall of US trade and slowdown of economy, Iran’s nuclear programme- all shows that the situation is not so easy for US now to handle as it could do in First Gulf war with the support of UNO.
We see that US is somewhere struggling to develop a consensus from other nation for whatever action it has taken in global issues even in the talks at WTO level, Environment summits etc. while there was a time that was the US Hegemony and it was said that the world could be stable and develop in US leadership well. Now in 21st century world is moving with multipolarity where other nations have emerged as new key-players of world---the world of Complex Interdependency and some other eminent scholars has coined the name for today’s world order that is Multiplex World.