The broad lament from commentators about global economic growth is that China is not pulling its weight. And many such pundits hail from countries, most prominently the United States, which have done everything they can to clip the wings of the Middle Kingdom even as they demand greater strides in its growth. On August 9, President Joe Biden signed an executive order restricting outbound investment to China, Hong Kong, and Macau. To stifle Japan’s military efforts in Asia, individuals such as Secretary of War Henry Stimson, Treasury Secretary Henry Morgenthau and Interior Secretary Harold Ickes resoundingly endorsed a policy of economic strangulation. It also augurs poorly for global security: economic strangulation can sweeten the instinct for war.

Source: Economic Times September 16, 2023 15:44 UTC