The international economy is beginning to fracture around the development of novel digital currencies and the human values that their systems represent. Since currencies represent a commonly accepted medium of exchange and can act as an enabler or disabler of economic relationships, they have the power to shape how the global economy functions.
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he stage is set for the 2022 Beijing Winter Olympics. One year from now, athletes and spectators will pour in from all over the globe. It will be the world’s coming-out party after two years of isolation. China plans to capitalize on the moment.
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90 percent of Americans now view China as a threat compared to 48 percent in 2018, according to an April edition of the Pew Research Center. In this era of distrust and misinformation, it is time for the United States to think about ways to decouple itself economically from China.
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When wielded effectively, U.S. sanctions have weakened targets like Iran and North Korea without impacting the global economy. But against authoritarian heavyweights like Russia and China, this may no longer be the case.
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Amid the current furor over Qassem Soleimani’s death and the United States’ imposition of sanctions on Iraq, it is important to revisit to explore how this type of economic warfare will effect the bilateral relationship between Washington and Baghdad. In the 1990s, Saddam Houssein’s regime was the target of a blunt and widespread embargo that, while limiting the country’s access to the international financial system, carried with it an extensive humanitarian toll.
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