Articles

Power transitions affect a state’s ability to exercise economic statecraft. As a dominating and a rising power approach parity, they face structural incentives to decouple their economies. This decoupling affects business-state relations: high-value businesses within the dominant power tend to oppose their state’s economic statecraft because of its costs to them, whereas low-value businesses within the rising power tend to cooperate because they gain from it. 

China leverages its market in a form of “predatory liberalism” that weaponizes the networks of interdependence created by globalization. ne response to China’s bullying would be for its targets to form an alliance to retaliate against China’s high-dependence trade should Beijing act against any alliance members. 

Economic interdependence has long been considered important to international peace. Questions about harmful effects of the free flow of capital, however, are arising. China and Organization for Economic Co-operation and Development countries are increasingly involving their business firms in security and intelligence work, causing a security dilemma dynamic that increases economic competition.

The world’s oceans have always provided ships with room to hide. New technology is changing that. Small satellites now collect terabytes of global data daily. Computational analytics can mine that data as humans cannot. Increasingly, this information expands the ability to identify and track ships and their activities, including those affecting national and international security. 

Commercial international port terminals owned and operated by Chinese firms provide dual-use capabilities to the People's Liberation Army during peacetime. They enable China to project power into critical regions worldwide by providing military logistics and intelligence networks.

 This article argues and seeks to demonstrate that "global history," with its roots in the study of empires and transnational integration, provides a useful intellectual framework for better understanding the powerful forces currently reshaping the international system—most significantly geopolitical competition and economic decoupling between the United States and China in the age of Covid-19.

Liberal market-oriented states are in a natural alliance to preserve and protect a global order that is systematically buttressing states’ embrace of market-oriented norms and values.

The liberal international order led by the United States was destined to collapse. Liberal excesses provoked a powerful nationalist backlash. In the emerging multipolar world, a realist order will manage the world economy, and Chinese-led and U.S.-led bounded orders will help the two great powers prosecute their security competition.