I believe the answer may be yes.
It's yes because two powerful states in Asia: China and Russia have consolidated authoritarian regime, that the end points may not be visible soon.
These two forces are working tirelessly to globalize oligarchy and authoritarianism.
Their gospels has been noised abroad. Their influences influences have been displayed in some nations (with pseudo democracy) in the global south,
In Africa, liberal democracy have been badly weaken by the character of people in leadership: abuse of offices, stealing of public funds without questions and necessary punishments, plus rigging of presidential elections, leading to changing fortunes ànd quagmires.
Beside, the curent hyper-inflation in Nigeria is blamed on the recent resurgence of Adams Smith and liberal economics doctrines (and partly by loyalty to Washington consensus: policies and insititios designed by the US government to globalize capitalism and it's associated cultural systems). The market is now spinning out of control, without a watchful eye.
In other countries in Africa where military ousted democratic regime in the recent years, the citizens were happy to the high heavens. Applauses were given to the tiny military groups that led the coup events.
Liberalism is good. Liberalism opens opportunities and freedom. But excessive freedom from liberalism have led to political decay in nations with weaker institutions and bad leadership.
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