We’ve seen this movie before, says Daniel Araya: “Current geopolitical tensions bear a striking resemblance to events preceding the First World War, as competition between Britain and Germany fomented decades of global destruction. Much as then, geopolitical rivalry between the United States and China — and, to a lesser degree, Russia — have provoked global uncertainty and an acute fear of great-power war.” The dangers of military confrontation in this period of history are obvious; what the world needs most, rather than a new Cold War, Araya writes, is new US-China rapprochement: both nations have a shared interest in maintaining the peace and prosperity of the Bretton Woods era.
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