The new great power conflict brings together military might and manufacturing capabilities. Economics blogger Noah Smith posits that today’s “Allies” – the United States, United Kingdom, European Union and Japan – will vie with a rising new “Axis” of Russia and China for geopolitical supremacy. He notes the similarities between current events and those of the 20th century’s Cold War, but he focuses on the greater political and economic implications that emerge in a globalized market in which economic self-sufficiency is much harder to achieve.
About the Author
Noah Smith is an economics blogger at Noahpinion.