💬 Opinion Mar 27, 2026 · Michael Spence

The Global Economy’s Many Chokepoints

#Global Economy#Many Chokepoints
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The Global Economy’s Many Chokepoints
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In a highly decentralized and competitive network, investors are incentivized to optimize for efficiency rather than for resilience. This dynamic has produced a highly fragile global economy, owing to single points of failure that extend far beyond geographical bottlenecks like the Strait of Hormuz.

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