DECOUPLING: How to Stop China From Imposing Its Values. “America’s alliances were built to address a Soviet military threat. The economic bullying that Beijing uses requires a different kind of collective self-defense.”

New threats demand new responses. During the Cold War, the U.S. created not just NATO but also the CIA and the Air Force to respond to Soviet threats. The period brought about a wholly new form of intelligence competition between the West and the Soviet Union. This led the U.S., Britain, Canada, Australia, and New Zealand to enter into the alliance commonly known as Five Eyes, which allowed unprecedented intelligence sharing among nations in peacetime. This approach would have been unimaginable before the Soviet geopolitical threat.

Similarly, a new kind of alliance—like NATO, but for economic rather than military threats—is needed to respond to the kind of statecraft that China is practicing. Under such a system, participating nations would provide mutual support when China threatens one or more members with economic repercussions for political actions. That assistance could involve the imposition of tariffs on Chinese goods by all member nations; the creation of a pool of capital to help a targeted nation withstand Beijing’s pressure; the release of strategic reserves of essential materials, such as rare-earth metals, that China produces and could withhold; and other forms of collective economic defense.

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