COUNTERING CHINESE ECONOMIC WARFARE PART 2

 

There is a school of thought that propagates than ‘Economic warfare Interventions do not always have to be concert with conventional warfare and can be sustained below the threshold of a full- fledged war to optimize payoffs during peace time’. Your views on the same are solicited.

It is true that economic warfare interventions do not always have to be accompanied by conventional warfare, and they can be used to pursue national interests during peacetime. This approach to economic warfare, which is sometimes referred to as "gray zone" or "hybrid" warfare, involves using a combination of military, economic, and political tactics to achieve strategic objectives.

Gray zone economic warfare interventions can be effective in achieving national objectives while minimizing the risk of escalation to full-scale conflict. For example, countries may use economic sanctions, trade restrictions, or cyber attacks to disrupt their adversaries' economies and undermine their political stability.

However, it is important to note that gray zone economic warfare interventions can also have unintended consequences, such as damaging the global economy, creating uncertainty in international trade and investment, and contributing to geopolitical tensions. Additionally, these interventions can also lead to a "race to the bottom" in which countries engage in tit-for-tat economic measures that ultimately harm all parties involved.

Therefore, while gray zone economic warfare interventions can be a useful tool in pursuit of national interests, they should be used judiciously and with a clear understanding of the potential costs and benefits.

There is a growing consensus among strategic thinkers that Economic Warfare Instruments alone cannot guarantee success in furtherance of National Interest and need to be complemented with hard power. What are your views on this aspect?

While economic warfare instruments can be an important tool in pursuit of national interests, it is true that they may not always be sufficient on their own and may need to be complemented with hard power. This is because economic measures such as sanctions or trade restrictions may not always achieve the desired outcome, and countries may need to resort to military force or other forms of coercion to achieve their goals.

However, it is also important to note that the use of hard power can have significant costs and risks, both for the countries using it and for the global community. The use of military force can lead to loss of life, damage to infrastructure, and long-term political and economic instability, and can also harm international relations and cooperation.

Therefore, while economic warfare instruments may not always be sufficient on their own, countries should carefully consider the potential costs and risks of using hard power before resorting to it. In many cases, a combination of economic and diplomatic measures may be more effective in achieving national objectives while minimizing the risk of escalation to full-scale conflict.