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When people scenario-monger about economic "attacks," you mostly find that they forget to consider the other side's position. Cutting off oil production (Iran,
by netcan 17y ago
When people scenario-monger about economic "attacks," you mostly find that they forget to consider the other side's position.
Cutting off oil production (Iran, UAE, Venezuela, Saudi Arabia) is something you hear every so often. These are all countries where oil is most of the economy, virtually all of the exports and the state/king directly controls it.
Take Saudi Arabia. Apart from continuing to directly feed the public with grants, subsidies and giveaways, Saudi Arabia has tens (or maybe even hundreds) of thousands of royal family members, religious elites and tribal leaders relying on money from selling oil. Cutting off oil is impossible.
Sure China has the theoretical ability to hurt the US economically. But the US has an even bigger economy and just as many ways of pinching back. Besides that, there is no such thing as a pinch that doesn't hurt the pincher.