The Economic Costs of National Security (Project-Syndicate)

As the US-China rivalry escalates, the growing emphasis on national security will undermine global trade and investment, leaving fewer resources to finance social policies, address inequality, and tackle climate change. This is a global tragedy of the commons, and there is no guarantee that recognizing it will change the outcome.

https://www.project-syndicate.org/commentary/us-china-rivalry-national-security-economic-costs-by-andrew-sheng-and-xiao-geng-2020-07

Andrew Sheng, Distinguished Fellow of the Asia Global Institute at the University of Hong Kong and a member of the UNEP Advisory Council on Sustainable Finance, is a former chairman of the Hong Kong Securities and Futures Commission. His latest book is From Asian to Global Financial Crisis. – Xiao Geng, Chairman of the Hong Kong Institution for International Finance, is a professor and Director of the Research Institute of Maritime Silk-Road at Peking University HSBC Business School.

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