The Indicator from Planet Money The Indicator from Planet Money

The new economic arms race

Apr 29, 2026 · 9m

Summary

Hosts Adrienne Ma and Julia Ritchie interview Edward Fishman about the rise of economic warfare through "choke points" like the US dollar and supply chains. Fishman explains how nations weaponize financial interdependence, citing US sanctions on Russia and China’s rare earth export controls as key examples. He warns that an uncoordinated economic arms race risks global instability and advocates for allied cooperation to mitigate vulnerabilities.

Topics discussed

Introduction and newsletter promotion Edward Fishman on economic choke points Sponsor messages from Schwab, Dell, and Vanguard History of economic warfare and globalization Financial and supply chain choke points China's rare earth leverage and economic arms race Diplomacy vs. economic war and ally cooperation Risks of uncoordinated economic warfare Credits and final sponsor messages
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