"Biden devoted a large chunk of his speech to his Buy American proposals, which economists largely hate, but which voters largely love. As a matter of trade theory, I’m sympathetic to the economists, but as Russia is proving, there’s more to life than trade. You could see that in an analysis done by The Economist, which has long been one of the loudest voices arguing for the logic of globalization. “The Russian operation to protect Donbas might not cause a global economic crisis today but it will change how the world economy operates for decades to come,” it wrote.
Russia will become more reliant on China. China will try to become more economically self-sufficient. The West is going to think harder about depending on autocracies for crucial goods and resources."
Komentarų nėra:
Rašyti komentarą