The year 2024 has been labeled as the super-election year. Elections are being held in about 70 countries around the world. Even one more election is added unexpectedly in France in the wake of the surprising victory of far-right parties at the European Parliament election. The election is going on in a way backfiring against the intention of French President Emmanuel Macron. Its first-round outcome only reaffirmed the troubling trends of the rise of far-right parties across Europe.

Much more troubling and important is the election of the United States. The recent presidential debate reveals the unpopular nature of the election. Rather than fighting over policy lines, both candidates were mostly engaged in a contest trying to show who should be disliked more. Despite mounting pressure following the debate, President Biden remains steadfast in staying the course.

If the election is held today, former President Trump is largely expected to win. But it is still too early to tell since unexpected developments can happen in the next four months until the election day.

The U.S. election exposes the following two risks to the world. The first is the immediate risk former President Trump's return may pose. Among others, many pundits warn of a hasty discontinuation of U.S. assistance to Ukraine and the weakening of the alliance relationships. He also avows to withdraw again from the Paris climate accord.

The second risk is more structural and long-term. Trump's continued influence, despite facing criminal allegations, reflects a growing trend in American politics toward intolerance and isolationism. A country of immigrants is increasingly turning inward and isolationist. In this respect, the Trump phenomenon must be taken not as a cause but as a serious symptom of the polarization of American politics.

These two risks together highlight the following three implications for the rest of the world. Firstly, the world must be cognizant of the U.S. retreat from its self-assumed role as the world's police and the guardian of the liberal international order since the end of World War II. The perceived U.S. retreat is likely to cause uncertainty and volatility along the geopolitical tectonic fault lines located between the Global West and East.

Secondly, the growing deficit of global leadership due to a U.S. retreat augurs ill for global governance at a time when it is needed most. Humanity as a whole is facing perfect storm of existential threats, such as the twin WMDs — weapons of mass destruction and weapons of mass disruption — and the intensifying climate crisis. These threats are global and therefore solutions must be global. Without U.S. leadership, however, it would be unimaginable to expect solutions to emerge anytime soon.

Thirdly, the worsening U.S. political climate represents the declining appeal of the liberal democracies of the Global West to the rest of the world, including, in particular, the Global South. Behind the recent rise of the far-right parties in the Global West are lurking four I's: inequality, intolerance, injustice and insecurity. These four I's provide fertile grounds for populism to thrive on extreme polarization of politics and society. Korea also appears to be no exception to the malaise of four I's. Liberal democracies need to find a way to overcome the tides of the four I's sooner rather than later. Otherwise the world will be devoid of a political role model to be emulated.

Korea stands at the frontier of the above risks and implications arising from drifting American politics. Any possible fallout must be analyzed carefully and prepared meticulously. Korea must do whatever it takes to mitigate the immediate risk Trump 2.0 may pose. Korea must also be vigilant against the long-term risk the American retreat may entail. Korea cannot do these jobs alone. A coalition of the like-minded countries must be actively explored. Perspectives need to be enlarged beyond the geographical constraints of Korea's immediate neighborhood. The first priority of partnership should be on the U.S. allies and partners sharing the same interests and concerns. A support base in the Global South also needs to be cultivated. Most importantly, Korea must put its domestic affairs in order. Political leaders in Korea must find a new path to steer its politics away from polarized populism and toward a new social contract aimed at overcoming the four I's.

Kim Won-soo is the former under-secretary-general and the high representative for disarmament of the United Nations. He is now the chair of the international advisory board of the Taejae Future Consensus Institute and a chair professor at Kyung Hee University. He is a guest editorial writer for The Korea Times.