<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>The war in Ukraine has not only dramatically changed Western perceptions of geopolitics, but also influenced risk assessments of economic interdependencies between Western economies and China. China has gradually emerged as an important, and in some cases indispensable, supplier to Western economies. The illusion of a gradual development and spread of Western values in the wake of the globalisation has failed. The paper discusses the challenges that China faces, i.e. the dramatic effects of demography, the misallocation of goods or its own dependencies on the West. The West cannot avoid the systemic conflict if it wants to remain a major global player, but it must clearly state its own interests.</p>
</abstract>

The war in Ukraine has not only dramatically changed Western perceptions of geopolitics, but also influenced risk assessments of economic interdependencies between Western economies and China. China has gradually emerged as an important, and in some cases indispensable, supplier to Western economies. The illusion of a gradual development and spread of Western values in the wake of the globalisation has failed. The paper discusses the challenges that China faces, i.e. the dramatic effects of demography, the misallocation of goods or its own dependencies on the West. The West cannot avoid the systemic conflict if it wants to remain a major global player, but it must clearly state its own interests.

Capitalism in the Trap of Mistrust

Wirtschaftsdienst

This work is licensed under the Creative Commons Attribution 4.0 International License.

Kapitalismus in der Misstrauensfalle

The war in Ukraine has not only dramatically changed Western perceptions of geopolitics, but also influenced risk assessments of economic interdependencies...

Capitalism in the Trap of Mistrust

Published Online: Mar 27, 2023

Page range: 156 - 160

DOI: https://doi.org/10.2478/wd-2023-0045

© 2023 Michael Hüther, published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.