Economics in the New Age of National Security
The growing geopolitical and economic split between the United States and China should prompt a paradigm shift in economic thinking. In particular, economists will need to reconsider their approach to topics such as comparative advantage, market integration, and how to promote convergence.
ABIDJAN – The global economy has entered a new age of national security. The COVID-19 pandemic highlighted the vulnerability caused by overreliance on global supply chains and the failure of coordination in tackling global health risks. But what has really ushered in this new era is Russia’s unprovoked invasion of Ukraine and sabotage of the global economy.