Can the world afford Russia-Style sanctions on China?


Source: leportale.com leportale.com

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Kenneth Rogoff As the global economic fallout from the current Western-led sanctions against Russia becomes clearer, are we watching a preview of what a trade and financial rupture with China might look like? Perhaps, but many academic studies of globalization ’s net benefits suggest that sanctions on China or a break in Sino-American economic ties probably would have a smaller quantitative impact than one might think, at least over the medium to long term. This is true for both the United States and China , which are large and relatively diversified economies. So, while an economic rupture with China may...