The predicament of economic warfare: Do sanctions work?
In the globalised economy, America has relied on the US dollar, advanced microchips and critical energy supply chains to exercise geopolitical power in the 21st century
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IT USED to be that ravaging another nation’s economic power required blockading its ports and laying siege to its cities. Now, as Edward Fishman proposes in Chokepoints: American Power in the Age of Economic Warfare, all it takes is a statement posted online by the US government.
Chokepoints is a gripping and vivid narrative about the new architecture of geopolitics. It’s one in which the US mobilises its economic and financial pre-eminence for geopolitical objectives; in this context, in its clashes with the “new authoritarians” China, Iran and Russia.
It’s also the story of a world economy that has moved from assured globalisation to increasing fragmentation and in which economic warfare has become “a baseline feature of our world”, as Fishman puts it.
