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2021 | OriginalPaper | Chapter

7. Cold War 2.0 and Mega Depression Risks?

Author : Nicolai S. Mladenov

Published in: China's Rise to Power in the Global Order

Publisher: Springer International Publishing

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Abstract

The chapter discusses the general state of the play and U.S. leadership stands in the pre-COVID-19 international system. Ideological and economic factors and confrontation between the U.S. and China help form the warning analysis of the risks that Cold War 2.0 and Mega Depression trends and threats pose for the future system of the international relations into the rest of the twenty-first century.

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previous chapter New System of International Relations? Which Way Forward into the Rest of the Twenty-First Century?

next chapter Global COVID-19 Crisis, the Biden Era—A Post-Trump World?

See Jack A. Goldstone, Revolution and Rebellion in the Early Modern World, 1991, Berkeley: University of California Press.

Ibid., Chapter 6, From Past to Present, p. 459.

Lecture, The Watson Institute for International and Public Affairs, at http://watson.brown.edu/events/2017/jack-goldstone-world-revolution-inevitable-backlash-against-global-elites.

See, Lecture, The Watson Institute for International and Public Affairs, at http://watson.brown.edu/events/2017/jack-goldstone-world-revolution-inevitable-backlash-against-global-elites.

Ibid.

Richard Haass, A World in Disarray: American Foreign Policy and the Crisis of the Old Order, see Introduction, 2017, New York: Penguin Press.

Ibid., part III.

Henry Kissinger, World Order, 2014, New York: Penguin Press, pp. 93–94.

Ibid., pp. 370–371.

Henry Kissinger, Diplomacy, 2011, New York: Simon & Schuster.

Jeffrey Goldberg, “World Chaos and World Order: Conversations with Henry Kissinger”, The Atlantic, November 10, 2016.

See Niall Ferguson, “Donald Trump’s New World Order”, The American Interest, November 21, 2016.

Joseph S. Nye, “The Kindleberger Trap”, Project Syndicate, January 9, 2017.

Ibid.

See at https://www.whitehouse.gov/briefings-statements/remarks-president-trump-74th-session-united-nations-general-assembly/.

Vice President Pence October 4, 2018 Hudson Institute and October 24, 2019 Woodrow Wilson Center speeches on China; Secretary of State Pompeo’s The China Challenge, October 30, 2019 Hudson Institute, and November 8, 2019 Korber Stiftung, Germany, February 7, 2020 National Governors Association’s winter meeting in Washington D.C., speeches, to name just a few.

See at https://www.reuters.com/article/us-britain-usa-pompeo-china/u-s-sees-chinese-communist-party-as-central-threat-of-our-times-pompeo-says-idUSKBN1ZT1FL.

Barr address at https://www.justice.gov/opa/speech/attorney-general-william-p-barr-delivers-keynote-address-department-justices-china.

See at https://csis-prod.s3.amazonaws.com/s3fs-public/event/200206_Wray_transcript.pdf?cQhL_McGqBfRu9FSPohWz7x4qi6Jk62b.

Ana Swanson, “A New Red Scare Is Reshaping Washington”, The New York Times, July 20, 2019, https://www.nytimes.com/2019/07/20/us/politics/china-red-scare-washington.html.

Bill Gertz, “National Security Group Reestablished With Focus on China Threat”, The Washington Free Beacon, March 26, 2019, at https://freebeacon.com/national-security/national-security-group-reestablished-with-focus-on-china-threat/.

Ibid.

See statement at https://www.reuters.com/article/uk-usa-armscontrol/u-s-prepared-to-spend-russia-china-into-oblivion-to-win-nuclear-arms-race-u-s-envoy-idUSKBN22X2LS.

“United States Strategic Approach to the People’s Republic of China”, The White House, at https://www.whitehouse.gov/wp-content/uploads/2020/05/U.S.-Strategic-Approach-to-The-Peoples-Republic-of-China-Report-5.20.20.pdf.

See the article with the same title at https://www.wsj.com/articles/yes-america-is-in-a-cold-war-with-china-11591548706.

Dingding Chen, “3 Types of Chinese Reactions to Mike Pence’s China Speech”, The Diplomat, October 7, 2018.

See at https://www.cnbc.com/2019/11/22/us-china-economic-conflict-could-be-,worse-than-wwi-henry-kissinger-says.html.

See at https://foreignpolicy.com/2019/07/29/yesterdays-cold-war-shows-how-to-beat-china-today/.

Dingding Chen, “3 Types of Chinese Reactions to Mike Pence’s China Speech”.

White Paper “Fighting Covid-19: China in Action”, Information Office, State Council, PRC, June 7, 2020, at http://english.scio.gov.cn/whitepapers/2020-06/07/content_76135269.htm.

Kevin Rudd, “How to Break the Mutually Assured Misperception Between the U.S. and China”.

See at https://edition.cnn.com/2020/06/17/media/us-agency-for-global-media-michael-pack/index.html.

James H. Nolt, International Political Economy: The Business of War and Peace, 2015, New York: Routledge, and “No New Cold War”, China-US Focus, June 13, 2020.

See at https://www.cnbc.com/2019/11/22/us-china-economic-conflict-could-be-worse-than-wwi-henry-kissinger-says.html.

Patrick Mendis, Joey Wang, “Washington’s Blue Dot Network (BDN): Missing the Mark on its Counter-China Strategy”, Global Affairs, December 18, 2019.

John Hudson, Paul Sonne, “Trump Administration Discussed Conducting First U.S. Nuclear Test in Decades”, The Washington Post, May 22, 2020, at https://www.washingtonpost.com/national-security/trump-administration-discussed-conducting-first-us-nuclear-test-in-decades/2020/05/22/a805c904-9c5b-11ea-b60c-3be060a4f8e1_story.html.

Vladimir Isachenkov, “Putin Signs Russia’s Nuclear Deterrent Policy”, Associated Press, June 2, 2020, at https://apnews.com/4f1772d79852e63ad9338ac557e009f1.

Dave Makichuk, “New US Space Strategy Targets Russia and China”, Asia Times, June 18, 2020, at https://asiatimes.com/2020/06/new-us-space-strategy-targets-russia-and-china/.

Ambrose Evans-Pritchard, “UN Fears Third Leg of the Global Financial Crisis-With Prospect of Epic Debt Defaults”, The Telegraph, September 22, 2016, at http://www.telegraph.co.uk/business/2016/09/21/un-fears-third-leg-of-the-global-financial-crisis-with-epic-debt/.

Ibid.

Christine Lagarde’s statement at the conclusion of the G-20 Summit in Hangzhou, China, September 5, 2016. http://www.imf.org/en/News/WArticles/2016/09/05/pr16394-Lagarde-Urges-Action-to-Deliver-on-G20-Hangzhou-Commitments.

Kristalina Georgieva, “Beyond the Crisis”, IMF, June 2020, at https://www.imf.org/external/pubs/ft/fandd/2020/06/turning-crisis-into-opportunity-kristalina-georgieva.htm.

“A Crisis Like No Other, an Uncertain Recovery”, IMF WEO, June 2020, at https://www.imf.org/en/Publications/WEO/Issues/2020/06/24/WEOUpdateJune2020.

Ibid.

See at https://www.bbc.com/news/business-52939846.

See WB analysis and data at https://openknowledge.worldbank.org/bitstream/handle/10986/33748/211553-Ch01.pdf.

See the Communique at https://www.proshareng.com/news/GLOBAL%20MARKET%20/Communique-of-G20-Finance-Ministers-and-Central-Bank-Governors-Meeting-of-July-18--2020/52290.

See analysis and OECD June 2020 Economic Outlook at http://www.oecd.org/economic-outlook/june-2020/.

“A Review of Global Fiscal Stimulus”, International Institute for Labor Studies, 2011, at https://www.ilo.org/wcmsp5/groups/public/---dgreports/---inst/documents/publication/wcms_194175.pdf.

Stephanie Segal, Dylan Gerstel, “Breaking Down the G20 Covid-19 Fiscal Response”, CSIS Simon Chair, April 30, 2020, at https://www.csis.org/analysis/breaking-down-g20-covid-19-fiscal-response.

See data at https://www.statista.com/statistics/1107572/covid-19-value-g20-stimulus-packages-share-gdp/.

Title: Cold War 2.0 and Mega Depression Risks?
Author: Nicolai S. Mladenov
Publisher: Springer International Publishing
Book: China's Rise to Power in the Global Order
Print ISBN: 978-3-030-66451-0

Electronic ISBN: 978-3-030-66452-7

Copyright Year: 2021
DOI: https://doi.org/10.1007/978-3-030-66452-7_7

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