The cold war holds lessons for America’s rivalry with China
The intensifying rivalry between America and China has led many to speak of a second cold war. Others reject the analogy. We can say this: the world’s two largest economies seem to have little space for co-operation and a great deal of room for conflict.
The greatest difference with the first cold war is, of course, the origin of this rivalry. After the second world war, the two superpowers settled quickly into confrontation. They had little in common. The Soviet Union was a military giant but an economic recluse, isolated from most of the global economy.
China, conversely, was brought into the international economy by its own choices under Deng Xiaoping and by the decisions of global capitalists.… Seguir leyendo »