While there are areas where global cooperation is possible, the source of the emerging discord is deep for two reasons. As the divergence has resulted in an inability to agree on global standards for technology, superpower spheres of influence are likely to emerge. This will not preclude other areas of global cooperation. Competition in the traditional areas of globalization—tariffs, taxation, immigration and capital flows—will be more intense but predictable. The country should work judiciously and take the lead in creating common technology standards for its bloc (hopefully with the US).

Source: Mint July 05, 2021 16:18 UTC