De-Globalization Is Forcing Nations Worldwide To Choose A Side | Michael Every

The global economic landscape is shifting from globalization toward a neo-mercantilist model defined by economic statecraft, where nations prioritize national security and domestic industrial capacity over free-market principles. The U.S. is increasingly using financial mechanisms, such as Treasury-backed stablecoins and targeted sanctions, to force a binary choice on global partners: align with U.S. financial and technological interests or face exclusion. This strategy aims to secure critical supply chains, particularly in energy and refined products, while managing domestic debt through yield curve control tactics. As geopolitical tensions escalate, particularly regarding Iran and potential military confrontations, the U.S. leverages its legacy hegemony to reorder global trade flows. These developments suggest a future where physical supply constraints and strategic alignment dictate market outcomes more than traditional financial metrics, necessitating a more integrated, state-directed approach to national economic power.