- The Strategist - https://www.aspistrategist.org.au -
The new era of decoupling, deglobalisation and economic war
Posted By Graeme Dobell on November 7, 2022 @ 10:00
Wandering between two worlds, one dead,
The other powerless to be born,
With nowhere yet to rest my head,
Like these, on earth I wait forlorn.
Previously, the US, along with allies and partners, focused on preventing China from acquiring technology that would improve its military capabilities. The ambition is now much grander: The goal is to constrain the development of China’s high-tech economy, to thwart its rise as a challenger to US (and Western) technological supremacy. It is a risky strategy and may instead accelerate developments it seeks to thwart.
[T[he hegemonic, high-handed and bullying acts of using strength to intimidate the weak, taking from others by force and subterfuge, and playing zero-sum games are exerting grave harm. The deficit in peace, development, security and governance is growing. All of this is posing unprecedented challenges for human society. The world has once again reached a crossroads in history.
Years hence, perhaps, may dawn an age,
More fortunate, alas! than we,
Which without hardness will be sage,
And gay without frivolity.
Sons of the world, oh, speed those years;
But, while we wait, allow our tears!
Article printed from The Strategist: https://www.aspistrategist.org.au
URL to article: https://www.aspistrategist.org.au/the-new-era-of-decoupling-deglobalisation-and-economic-war/
[1] Matthew Arnold: https://www.poetryfoundation.org/poems/43605/stanzas-from-the-grande-chartreuse
[2] banning : https://www.washingtonpost.com/technology/2022/10/07/china-high-tech-chips-restrictions/
[3] Edward Luce’s comment: https://www.ft.com/content/398f0d4e-906e-479b-a9a7-e4023c298f39
[4] dramatic escalation: https://www.aspistrategist.org.au/the-great-chips-war/
[5] national security strategy: https://www.whitehouse.gov/wp-content/uploads/2022/10/Biden-Harris-Administrations-National-Security-Strategy-10.2022.pdf
[6] Brad Glosserman: https://pacforum.org/publication/pacnet-59-how-the-new-national-security-strategy-transforms-us-china-policy
[7] crested and begun to recede: https://www.foreignaffairs.com/united-states/after-neoliberalism-all-economics-is-local-rana-foroohar
[8] Thomas Friedman: https://www.nytimes.com/2022/11/01/opinion/china-united-states-trade-economy.html?campaign_id=225&emc=edit_nttf_20221101&instance_id=76277&nl=thomas-friedman®i_id=73405219&segment_id=111733&te=1&user_id=dff56734d4df784248f63058b7b6900a
[9] ‘Chexit’: https://www.scmp.com/comment/opinion/article/3022121/chexit-china-might-just-exit-multilateral-order-if-us-pushes-it-too
[10] ‘strangled’: https://www.piie.com/blogs/realtime-economics/first-trade-war-now-russias-real-war-why-us-exports-china-continue-suffer
[11] drastic changes in the international landscape: https://asia.nikkei.com/Politics/China-s-party-congress/Transcript-President-Xi-Jinping-s-report-to-China-s-2022-party-congress
[12] dramatic and sinister: https://www.aspistrategist.org.au/was-xi-behind-hus-dramatic-exit-from-the-20th-ccp-congress/
[13] Rowan Callick: https://www.theaustralian.com.au/author/rowan-callick
[14] listed The Godfather: https://www.theaustralian.com.au/inquirer/party-of-one-chinas-godfather-moment-as-he-achieves-xiplomatic-immunity/news-story/1141ab663c2d1e8372aed6b0f22498fa
[15] crisis: https://www.iisd.org/articles/united-states-must-propose-solutions-end-wto-dispute-settlement-crisis
[16] trade war: https://www.politico.eu/article/france-us-eu-transatlantic-trade-tension/
[17] Bidenomics: https://www.economist.com/leaders/2022/10/27/the-risks-of-bidenomics-go-beyond-inflation
[18] overhaul: https://www.economist.com/briefing/2022/10/27/joe-biden-attempts-the-biggest-overhaul-of-americas-economy-in-decades