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2023 shows that economic growth does not always breed peace

Global interconnection did produce real change, but not only in the ways the west hoped
Benjamin Netanyahu, Israel’s prime minister, and Vladimir Putin of Russia. It is not simply that military forces challenge the formula of economic peace, the economy itself is not neutral
The writer is an FT contributing editor and writes the Chartbook newsletter

This was a year of dismaying conflict and violence. The war in Ukraine, the risk of a superpower clash in the South China Sea and the explosion of violence in Palestine-Israel form a terrible trifecta. In each of these arenas the peace that followed the end of the cold war is now fundamentally in question.

Behind this upsurge in international tension, it is tempting for western analysts to see an “axis of evil” at work. Putin’s assault on Ukraine followed the violent forays of Russian forces into Syria and Libya. Russia is closely linked to Iran, which is the leading sponsor of both Hamas and Hizbollah. China is the major buyer of Iran’s sanctioned oil exports and also the partner that enables Russia to evade western sanctions.

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