While leveraging global economic choke points to advance one’s own interests is certainly preferable to deploying tanks or launching missiles, such leveraging of interdependence is not without costs. Eventually, the dependencies that it exploits will collapse, leaving everyone worse off.
worries that major powers’ understandable reliance on economic coercion will go too far.
Governments are the most important wealth managers in their respective jurisdictions, but they rarely behave like it. To boost revenue and ensure economic stability, policymakers must modernize their accounting practices and establish public wealth funds.
urges cash-strapped countries to adopt a commercial approach to management of government-owned assets.