China Will Be Deglobalization’s Big Loser
Seven decades ago, Mao Zedong embraced economic self-reliance and foreign-policy militancy, which turned China into an impoverished pariah state. This history should be a stark warning to President Xi Jinping: if he allows Russia to divide the world with its war on Ukraine, it is China that will pay the heaviest price.
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CLAREMONT, CALIFORNIA – Russia’s unprovoked war against Ukraine has accelerated the division of the world into two blocs, one comprising the world’s democracies, and the other its autocracies. This, in turn, has exposed the risks inherent in economic interdependence among countries with clashing ideologies and security interests. And although the coming deglobalization process will leave everyone worse off, China stands to lose the most.