The Economic Threat of Undisciplined Geopolitical Primacy
Over the past few years, national-security experts and economic policymakers have found themselves at odds over the best approach to international relations. While geopolitical considerations are currently dominating the discussion, economists must continue to voice their concerns about the long-term costs of fragmentation.
PARIS – In recent weeks, there has been no shortage of speeches by prominent leaders discussing their countries’ relationships with China and the potential economic fallout of geopolitical fragmentation. This is a welcome, if much-belated, discussion. But it must address a fundamental question: Can rivalry and economic integration coexist and, if so, under which terms? The answer will determine the fate of the global economy.