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I think waging economic war on national opponents is pretty rational compared to going straight to hot war, and better than proxy wars, too, because they still cause the deaths of millions (although the US and Russia are also doing that). It depends on your perspective. Economic warfare is very humane compared to carpet bombing and tactical nukes.
I'm not placing bets, but if we could have the cold war for over 40 years, I think we could have it again. The first cold war featured economic and proxy wars like the current "conflict". I mean, look at Korea - it is a holdover from that first cold war. It's unfinished business.I wouldn't bet on it. We had the Cold War, which was dangerous from so many perspectives (even just taking errors into calculation... which could happen today too). The atmosphere we have today is the same, if not worse. But worryingly, there is an added recklessness in attitudes. We all may be caught off-guard. Many people are sounding the alarm, but the ones who can change things, and bring us back from the brink, are not interested. Instead they are interested in continuing escalation. It is already evident who history will judge if things go wrong. But that's of no comfort to anyone.
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