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The Beginning Of The End For The American-led Economic Order

Phil Mullan writing for spiked

With the economic sanction on Russia, China sees an opportunity to expand its influence.

From the article,

While the war is of huge importance geopolitically, it would, however, be misleading to overstate its economic effects, given all the other enormous economic challenges already in place. For example, the Financial Times claims that the war has ‘shattered hopes of a strong global economic recovery from coronavirus’. It is likely that today’s bloody war will reinforce the longer-term shifts in international economic relations that have been underway for more than a decade and were already amplified by the responses to the Covid-19 pandemic. Post-pandemic, the old crutches of American world leadership and of the globalist institutions were already looking increasingly worn out. However the Russian invasion unfolds, this erosion of the American world order is likely to continue. An even more dangerous geopolitical interregnum is therefore now on the cards. This heralds what could be a protracted period when the world is neither fully at war nor fully at peace, and where, in place of genuine cooperation and collaboration, conflict and confrontation become the norm.

Read the full article at spiked