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The Semiconductor Trade War
The last decade has been dominated by the partial unraveling of global trade networks amidst growing great power competition. The world’s major democracies, finding themselves facing down aggressive autocratic states in China and Russia, have stopped believing in the power of trade to induce political liberalization and international friendship. The result has been the growing use of economic conflict and industrial statecraft to achieve geopolitical aims—and an increasing frequency of trade wars. This was particularly important in the aftermath of Russia’s invasion of Ukraine, where a package of harsh ... (full story)