Irrational fear impedes free trade and progress


Production powerhouse: A worker assembling a vehicle in Jiangsu, China. The EU plans to slap additional tariffs of up to 38% on Chinese EV imports from next month after an anti-subsidy probe. — AP

WITH geopolitical tensions and longstanding armed conflicts reverberating around the world, some political observers are worried that a third world war or potentially nuclear war may erupt someday.

Personally, I believe a third world war is unlikely to happen, as the most powerful weapon today is no longer a nuclear warhead, but economic sanctions. Developed countries, or economic blocs, that have the buying power to import goods from developing nations often adopt sanctions or trade tariffs as part of their foreign-diplomacy measures.

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