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Long gone are the times when american economy represent almost half the world output. The US is still a giant economy, but if it went into sanctions alone, the
by elzbardico 2y ago
Long gone are the times when american economy represent almost half the world output.
The US is still a giant economy, but if it went into sanctions alone, they wouldn't have today nearly half the bite they had in the past. Now sanctions are still effective because the US still have the soft power to convince the rest of the G7 and most of the G-20 to play along with the US.
But this won't last forever, one of those days, the folks at ASML on netherlands, or maybe the folks at Cannon in Japan are going to start asking why they are closing themselves to the second biggest market in the world, just so the US can keep on being the hegemon.
You only need one defactor, and the whole sanctions castle will come crumbling down as if made of sand.