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From postwar multilateralism to Trump's 'America First': this book traces how a globally successful order lifted millions out of poverty but deepened inequality - both between and within countries. That tension ultimately unraveled the system. After globalization ended around 2010, the world split into competing blocs, and protectionism became a tool of power politics. Bilateral deals have replaced multilateral cooperation, leaving smaller countries exposed. The postwar institutions were remarkably successful, but proved ill-suited to a world transformed by decolonization and the end of the Cold War. The old order cannot be restored. A new multilateralism is urgently needed - but it is not yet in sight, not even in draft form.