Motley Fool Money Friendshore First, Trade War Second
42 snips
May 3, 2025 
Edward Fishman, author of 'Chokepoints' and a professor at Columbia, delves into the unraveling economic interdependence that's reshaping global dynamics. He discusses how the U.S. dollar rose to power in economic warfare and the implications of trade wars, especially regarding tariffs and sanctions on China. Fishman analyzes the complex interplay between U.S. foreign policy and economic strategies, emphasizing the pressing need for the U.S. to adapt in an increasingly competitive world.
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Shift to Economic Warfare
- Economic relations have shifted from a win-win to a conflictual, competitive model between nations.
- Sanctions, tariffs, and export controls are now the main tools of great power competition.
Unraveling Economic Interdependence
- Economic interdependence between major countries will unravel within 5-10 years.
- The global economy may slide into autarky if broad economic warfare continues.
Dollar's Rise at Bretton Woods
- The US dollar became the world's reserve currency at the 1944 Bretton Woods Conference.
- The dollar's dominance supports global trade and finance, becoming a cornerstone of the global economy.
