Top Highlights

• The idea of a “peace interest” — a transnational social and economic constituency opposed to war — was coined by the economist and social theorist Karl Polanyi, who used it to explain the long era of great power peace in Europe between 1815 and 1914. The make-up of the peace interest can change. After the shock of the French Revolution and Napoleon...
• From the 1970s, business interests began to extend across the iron curtain and became truly ascendant in US relations with China from the 1990s onwards. Hank Paulson, former Goldman Sachs chief executive, appointed as Treasury secretary by President George W Bush specifically to manage the strategic relationship with China, personified the peace in...
• In recent weeks, the Biden administration has buried neoliberalism and declared a new Washington consensus(opens a new window). National industrial policy is all the rage. National security adviser Jake Sullivan boasts that it is not part of his job description to defend the interests of American investors in China(opens a new window). As a result,...
• With escalation in the air, it would be vain to hope for a return to the old days of business hegemony. The era of “Davos man” is over.

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