In my last column, I set out how the global geopolitical environment has radically changed, with the US and China by far the most powerful actors and both behaving in an increasingly aggressive and predatory way. To make matters worse, we Europeans also have the misfortune to have as a neighbour the only actively imperialist state among the world’s middle powers, and one that has waged savage war on its Ukrainian neighbour for the past four, grinding years. This is a radically and dramatically different environment than that which pertained in the three decades after 1989. Then, the US was a…

Want to continue reading?

Join today and get full access to The Currency and The Wall Street Journal – TWO premium memberships for the price of one.

Subscribe

Cancel at any time.

Are you already a member? .