Another advantage of increased trade is greater economic interdependence, which I think reduces the probability of conflict. If that conflict were to manifest itself as nuclear war, this could have catastrophic consequences, plausibly reducing the long-term potential of humanity.
Thanks! For sure, there is plenty of literature how increased trade reduces conflict. First, an economically-motivated nation will go less likely to a war with one of its important trade partners. Second, this may not be possible, if military of either of the economies cannot sustain itself without trade. This also implies that governments are interested in securing militarily strategic resources (such as energy) abroad. According to Blackwill and Harris (War by Other Means), the foreign investment into resources may increase security within nations that would be otherwise at risk of fighting over these resources in armed conflicts (e.g. the Chinese military protection of South Sudan where China sources its oil).
Would you by chance recommend any literature that quantifies the security spillovers of trade investments??
Another advantage of increased trade is greater economic interdependence, which I think reduces the probability of conflict. If that conflict were to manifest itself as nuclear war, this could have catastrophic consequences, plausibly reducing the long-term potential of humanity.
Thanks! For sure, there is plenty of literature how increased trade reduces conflict. First, an economically-motivated nation will go less likely to a war with one of its important trade partners. Second, this may not be possible, if military of either of the economies cannot sustain itself without trade. This also implies that governments are interested in securing militarily strategic resources (such as energy) abroad. According to Blackwill and Harris (War by Other Means), the foreign investment into resources may increase security within nations that would be otherwise at risk of fighting over these resources in armed conflicts (e.g. the Chinese military protection of South Sudan where China sources its oil).
Would you by chance recommend any literature that quantifies the security spillovers of trade investments??
Unfortunately I’m not familiar with that literature, but others feel free to jump in!
OK, thanks!