Henry Farrell, author of Underground Empire: How America Weaponized the World Economy, discusses how US hegemony shifted from guns to SWIFT codes and internet policies. They explore topics like US dollar dominance, control over the global crypto economy, the EU's relationship with the US, and the impact of the Snowden revelations on global networks.
The United States has weaponized the global economy through infrastructure control, such as the Swift network and dollar clearing system.
The United States seeks to maintain control over global communication networks, particularly in relation to internet and 5G technology.
Revelations of US surveillance activities have brought public attention to the power and political implications of infrastructure systems.
Deep dives
The Power of Infrastructure in Global Politics
This podcast episode explores the ways in which infrastructure, particularly in the realm of finance and communication, has become a tool for geopolitical power. It discusses how the United States has weaponized the global economy through various means, such as controlling the Swift network and exerting influence over the dollar clearing system. The podcast highlights the influence of key actors like Citibank and Facebook in shaping global power dynamics. It also examines the consequences and limits of such power, including the pushback and reactions from other countries. Overall, the episode sheds light on the complex interplay between infrastructure, politics, and global power struggles.
The Transformation of Infrastructure Power
The podcast emphasizes the evolution of power dynamics related to infrastructure, particularly in the context of the internet and 5G technology. It delves into how the United States has sought to maintain control over global communication networks by altering key aspects of infrastructure, especially in relation to the fiber-based internet and the dominance of Chinese telecom giant Huawei. The episode highlights the importance of infrastructure control in shaping global influence and the consequences and challenges faced by different countries and entities as they navigate this arena of power.
The Awakening to Infrastructure Power
The podcast discusses how revelations like Edward Snowden's exposure of US surveillance activities have brought the power of infrastructure to public attention. It explores the impact of such revelations on public perception, government policies, and global dynamics. The episode highlights the shift in discourse and the growing awareness of the political implications inherent in seemingly mundane infrastructure systems. It also acknowledges the reactions and efforts by different countries to carve out their own domains of influence in the evolving global infrastructure landscape.
The Future of Infrastructure Power
The podcast raises questions about the future trajectory of infrastructure power and its implications for global politics. It considers possible scenarios, including the potential for regionalization of networks, the role of emerging technologies like cryptocurrencies, and the challenges posed by increasing complexity and interdependencies. The episode reflects on the need for adaptation and the potential for ongoing shifts in global power dynamics influenced by infrastructure control. It encourages further exploration and examination of this evolving landscape.
Infrastructure Power and its Complexities
The podcast delves into the complexities and nuances surrounding infrastructure power, highlighting the intertwining of politics, economics, and technological development. It underscores the multi-faceted factors shaping infrastructure control, from commercial interests to government influence. The episode stresses the need for a deeper understanding of this domain and the potential implications it holds. It encourages listeners to consider the evolving dynamics of infrastructure power and its impact on global affairs.
This week, Felix Salmon, Emily Peck, and Elizabeth Spiers chat with Henry Farrell, author of Underground Empire: How America Weaponized the World Economy. Henry explains how American hegemony shifted from guns and tanks to SWIFT codes and internet policies. Can China or Russia beat it at its own game?
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