ChinaTalk Economic Warfare: A History
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Mar 3, 2023 Nick Mulder, a Cornell history professor and author of "The Economic Weapon," dives into the history of economic sanctions as a tool of war. He explores how countries like Britain approached sanctions during the Crimean War and discusses the reluctance of Europeans to use blockades in the early 20th century. Mulder also highlights Wilson's moral sanctions post-World War I and examines the League of Nations' failed attempts at positive sanctions. Stay tuned for insights on how this history connects to US-China relations!
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Crimean War Payments
- During the Crimean War, Britain and Russia fought each other while fulfilling debt obligations.
- The British Treasury continued to make interest payments to the Tsarist government.
War and Commerce Separation
- 19th-century justifications for trade during wartime stemmed from liberal ideas of separate spheres and practical needs.
- States were seen as separate from private individuals, allowing commerce even during conflict.
WWI's Impact on Economic Warfare
- World War I significantly shifted the relationship between war and private economies.
- The Allied blockade of Central Europe demonstrated the potential of economic pressure.
