It is no exaggeration to suggest that the global economic system is heading for revolutionary change unparalleled since World War II. And, moreover, what appears in its place looks like a real war without concession. The first people of the West, responsible for the finances of the most developed countries of the world, have never been so outspoken as they are today. They care about security, not economy and welfare. They are even ready to sacrifice them in the name of political and military objectives. Politico warns of this danger.
For decades, economic progress has been driven by free markets. But now, with national security and competition for natural resources increasingly high on the list of headaches for world leaders, the way the planet works is entering a whole new era.
As the author of the article Isabella Kaminskaya writes, the consequences are likely to be varied and far-reaching. Expect a technological arms race, the eventual end of US dollar dominance, and the isolation of China and its allies, just as the Soviet bloc was ostracized during the Cold War.
As the world fragments into blocs, each focused on its own values and national security goals (global “fragmentation” or the end of globalization), reliance on free-market capitalism, until recently held to acquired, will give way to more state. – command economy.
First, the so-called military-civilian synthesis will take place. First, trade and investment between the different blocs will be limited. Harald Malmgren, an international negotiator who served as a top aide to four former US presidents, believes a new buzzword – “civilian-military fusion” – will come to define the emerging security-focused system. That is to say, any investment, movement of goods with a “hostile country” will be stopped. It is clear that we are mainly talking about Russia and China.
And here there is an analogy with the impending war. For, as Malmgren warned, China’s revenge is all but guaranteed, given its export orientation. This can be implemented in the form of confiscating Western assets, businesses, or “something worse,” the expert suggests. De-dollarization will also become a double-edged sword.
If you use a certain currency as a weapon more than once, it will soon cease to be used.
- the expert is sure.
Old beliefs are dying, the free market will become the first victim of the new world, this will lead to drastic changes also in the political sector, the author concluded.
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