"The liberal order didn’t collapse because people failed to appreciate its benefits. It collapsed because it failed the vast majority of people it was supposed to serve." Read: substack.com/home/post/p-...

The bit I might quibble with is that this system didn't benefit anyone (and that China sat outside it) - actually a whole load of middle income countries in East and SE Asia and Eastern Europe benefited substantially from the arrangement - this may not have been the intent, but it was the outcome