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Security Economy

Sanctions: The New Economic Battlefield

Image courtesy of Vladimir Solomyani/Unsplash

This article was originally published by the Australian Strategic Policy Institute (ASPI) on 6 August 2019.

Economic warfare is being fought with an intensity not seen since the period leading up to World War II as countries deploy tariffs, embargoes and economic sanctions to force policy changes or punish their adversaries.

Free trade is coming off second best, and global trade has stalled. There’s been no growth in trade volumes since late 2017, contributing to a slowing world economy.