Washington has been leading the post-World War Two liberal order as an advocate of free trade and democracy.
But the Trump Administration's America First policy is raising concerns about a potential trade war and possible disruptions to U.S. alliances.
Kim Hyesung brings us some experts' take on the developments, especially in relations to the North Korea crisis.
"Yes, we are living in a new era, and a new era requires new thinking, and I believe that this involves reshaking and rethinking the liberal international order. The liberal international order, in Donald Trump's view, cannot mean a blind adherence to the old way of doing things, including interference in all the world's crisis..."

More than one-hundred scholars, former government officials and experts from Korea, the U.S., Japan and China gathered in Seoul Tuesday to discuss the changes that've occurred over the past year since Donald Trump became president.
Most experts at this year's Asan Plenum agreed that some of Trump's policies, like imposing tariffs and amending trade deals, have added to uncertainty in the global economy and the existing mutilateral trade framework.

But on the security front, they argued that Trump's policies on Syria and North Korea show America's strong security alliance with NATO and South Korea and... that there could be a breakthrough in the North Korea crisis through the upcoming summit talks.
For those to be a success, experts said the first step is coordination between Seoul and Washington, like narrowing down the definition of denuclearization, be it Washington's policy of CVID, or Complete, Verifiable and Irreversible Dismantlement, or a gradual nuclear dismantlement.
At the same time, discussions are also needed about what the U.S. and South Korea are willling to give to North Korea -- in terms of sanctions, military exercises, a security guarantee or a peace treaty.

"To talk about a Peace Treaty this early I think is a bit unconventional. It's something, if we do it, it should directly involve the United States. The U.S. is the signatory, if not the UN. It should involve China. Kim Jong-un could ask for too much, Donald Trump may want to give too little, Donald Trump may want to give too much. There are too many possible scenarios."

Unconventional is good if that approach succeeds. But given the high stakes, experts warn that more preparation, a closer look into the details, and coordination between Seoul and Washington are key to using these talks to help achieve peace on the Korean Peninsula.
Kim Hyesung, Arirang News.