By James M. Dorsey US President Donald J. Trump may not like armed conflict, but he sure loves economic warfare, whether it is to impose his political will on countries, protect sectors of the U.S. economy, secure more preferential trade terms, or stop others from gaining technological advantage.
September 2019 Buy CSS Books Online as Cash on Delivery | Call/SMS 03336042057 Page 115 The list of countries subject to sanctions or import tariffs designed to force changes in either economic, military, or geopolitical policies is long and includes both U.S. allies and rivals. Since Mr. Trump assumed presidency in January 2017, he has sanctioned China, North Korea, Russia, Venezuela, Iran, the European Union, Myanmar, Syria and Cuba. In one of his first actions after entering the Oval Office, he pulled the United States out of the Trans Pacific Partnership (TPP). (3). He has also sought to undermine the World Trade Organization (WTO), a US-inspired pillar of global trade. (4) Mr. Trump’s liberal use of sanctions amounts to more than a penchant for economic warfare in an effort to create trade terms more advantageous to the United States. Economic warfare is the president’s strategy to shape a new world order that is likely to be multi- polar. Almost three years into Mr. Trump’s administration, it is proving to be a strategy with unintended consequences. Trump is not the only leader to discover that the employment of trade, commerce, and investment as not only an economic but also political tool can be a double-edged sword. Conspiring by Default So is Chinese president Xi Jinping as he confronts mounting anti-Chinese sen timent in Eurasia and greater competition on China’s border in the Russian Far East. Both leaders are forced to respond to external shocks, like mounting tension between Saudi Arabia and Iran in the wake of recent brazen drone and missile attacks on the ki ngdom’s oil installations. These attacks have led to a temporary cut of Saudi oil production by half, and are likely to change trading patterns, particularly in energy, not only of China; but also, of multiple other Asian states, including Japan, South Korea and India. Mr. Trump’s protectionist penchant for economic warfare, 15 months before next year’s US presidential election, that breaks with 85 years of U.S. trade and economic policy focussed on free trade and open markets, has yet to produce a foreign policy success. China and Russia, determined to counter U.S. power, particularly in Asia, have forged ever-closer ties. Iran and North Korea have demonstrated the resilience to endure harsh sanctions. Nicholas Maduro retains
September 2019 Buy CSS Books Online as Cash on Delivery | Call/SMS 03336042057 Page 116 his grip on Venezuela while Europe is increasingly exasperated with America and discussing ways of improving relations with Russia to counter China.
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