The transformation of the world economy
By David James
In geoeconomic and financial terms, the Earth has begun shifting on its axis. Triggered by the West’s proxy war with Russia in Ukraine, and America’s increasingly aggressive posture towards China, the shape of the world economy is being transformed. It is arguably the biggest repositioning in two centuries. The world economy
is splitting into two parts, reminiscent of the divide between communism and capitalism during the Cold War. Globalised trade, and the disaggregation of large corporations’ production systems around the world, are likely to be reversed, replaced by an era of economic nationalism.