2024 Outlook for the Global Situation

​

Sang Hyun Lee

President of Sejong Institute

shlee@sejong.org

In 2024, the international situation is expected to increase uncertainties and risks caused by various conflicts and confrontation around the world amid the simultaneous progress of a new bloc under a fragmented world order. For the time being, in the absence of clear global leadership, all countries are expected to put their security and economic interests as priority matters. In order to forecast the international order in 2024, several key drivers should be noted. Representative examples are the development of U.S.-China relations, the direction of the war in Ukraine, the situation in the Middle East, Taiwan and the South China Sea issues, and the situation on the Korean Peninsula. In response to these changes in the international situation, the Yoon Administration is responding by highlighting the identity of value diplomacy and enhancing strategic transparency. In global level, the illiberal particularism is ongoing rather than liberal international order and democratic regression is ongoing at the domestic level, efforts by major countries to agree on a desirable international order have become more important.