Thursday , June 4 2020
Home / Project Syndicate / Why a Cool War May Be Worse than a Cold One

Why a Cool War May Be Worse than a Cold One

Summary:
The unfolding Sino-American conflict is far less cut and dried than the Cold War was. Minimizing the fallout will require both sides to recognize that, in an interconnected world, efforts to strengthen their own position become self-defeating when they undermine global stability and dynamism. HONG KONG – In recent years, fears of a new cold war between the United States and China have been proliferating. But the tensions between the two powers would be better described as a “cool war,” characterized not by old-fashioned spheres of interest, proxy wars, and the threat of “mutually assured destruction,” but by an unprecedented combination of wide-ranging competition and deep interconnection. How Truth Survived

Topics:
Andrew Sheng considers the following as important:

This could be interesting, too:

Miles Kimball writes Adam McCloskey and Pascal Michaillat: Calculating Incentive Compatible Critical Values Points to a t-Statistic of 3 as the 5% Critical Value after Accounting for p-Hacking

Tyler Cowen writes What should I ask Rachel Harmon?

Tyler Cowen writes Our regulatory state is broken, installment #1837

Tyler Cowen writes Wednesday assorted links

The unfolding Sino-American conflict is far less cut and dried than the Cold War was. Minimizing the fallout will require both sides to recognize that, in an interconnected world, efforts to strengthen their own position become self-defeating when they undermine global stability and dynamism.

HONG KONG – In recent years, fears of a new cold war between the United States and China have been proliferating. But the tensions between the two powers would be better described as a “cool war,” characterized not by old-fashioned spheres of interest, proxy wars, and the threat of “mutually assured destruction,” but by an unprecedented combination of wide-ranging competition and deep interconnection.

Even without the threat of nuclear annihilation that marked the Cold War, a “lose-lose” outcome is likely in this cool war – not least because, in a scenario where either the US or China begins to gain an advantage over the other, the loser could well act rashly to bring their opponent down with them. But a win-lose or even win-win outcome is also possible. Whatever happens, the effects will reverberate globally.

The ongoing trade war, which US President Donald Trump initiated in the summer of 2018, offers a straightforward example of cool-war dynamics. Whereas the Soviet Union was a closed economy, China has, over four decades of “reform and opening up,”...

Leave a Reply

Your email address will not be published. Required fields are marked *