The Rise and Fall of Economic Statecraft
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When Donald Trump returns to the White House in late January, he’ll hold the levers of U.S. economic power. The ubiquity of the dollar as a currency of exchange, coupled with the centrality of U.S. financial institutions and networks, gives Washington an unparalleled ability to make it hard for adversaries to do business. Since 9/11, the United States has wielded financial sanctions at an increasing scale and scope, targeting individuals, governments, and nonstate actors. It has even turned
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