Is “Peace Through Commerce” Dead?
Germany's post-war policy of engaging economically with rivals was fundamentally a bet on globalization, and globalization is always changing. Though it will undoubtedly continue to develop in new and unexpected directions, that is no reason to reject the idea that interdependence supports peace and prosperity.
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BERLIN – Since Russia’s invasion of Ukraine, German politicians have been on an apology tour for their country’s past reliance on Russian hydrocarbons and advocacy of EU-Russian energy integration. German Chancellor Olaf Scholz has responded to Russian aggression by declaring a Zeitenwende (turning point) and finally shutting down the Nord Stream 2 pipeline. Yet many still see that project as a blot on Germany’s honor and its political savvy.