by Valentin KATASONOV
Economic wars in the 21st century
An analysis of economic wars from the 19th to the 21st centuries shows that, in an overwhelming number of cases, they primarily pursued and are pursuing political objectives. They differ in this from trade wars, the objective of which is to seize markets. The wars are referred to as economic wars because they put pressure on other states through economic means: trade, maritime, and credit blockades, as well as the seizure and confiscation of property.
While carrying out its aggressive foreign policy towards countries on the periphery of global capitalism, the West prefers to avoid using the term ‘economic warfare’. America’s ruling elite and its allies use neutral words like ‘economic sanctions’, ‘trade and economic restrictions’, ‘moratorium’, ‘embargoes’ and so on. As a rule, however, these restrictions, moratoriums and embargoes in combination can have a powerful…
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