The Economics of the New Cold War
The conflict between Israel and Hamas has reawakened cold war cleavages and the powers are taking sides. Russia’s invasion of Ukraine has had serious consequences across the world, sparking food shortages, energy crises, and inflation that have destabilised economies. However, Ukraine’s resistance has also had geopolitical effects, initially galvanising European and Western cohesion and military support, although challenges and splits have begun to emerge. And what of China’s role as a superpower and broker? Just what are the politics and economics of this very 21st-century war?