Globalization is breaking down and a new world order is forming, says economist Noah Smith in this thought-provoking essay. He posits that China and America once benefited from a mutually advantageous trade relationship: The former grew its economy while the latter profited from technology and expanded production. Yet China now recognizes that its openness to the West keeps it from economic self-sufficiency. Smith convincingly argues that a shift in great-power alliances centered on trade is ushering in a new configuration of geopolitical alliances.
About the Author
Noah Smith blogs at Noahpinion. He is a former assistant professor of finance at Stony Brook University and Bloomberg columnist.
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