Has Economic Power Replaced Military Might?
Military power, which some call the ultimate form of power in world politics, requires a thriving economy. But whether economic or military resources produce more power in today’s world depends on the context.
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CAMBRIDGE – At the Cold War’s end, some pundits proclaimed that “geo-economics” had replaced geopolitics. Economic power would become the key to success in world politics, a change that many people thought would usher in a world dominated by Japan and Germany.