More defense spending is necessary but not enough. We also need cooperation on trade and technology.
The next decade will be one of the most dangerous yet most transformational periods the world has ever seen. Democratic market states must seize this moment and shape it. If they don’t, it will be the axis of authoritarian states—China, Russia, Iran and North Korea—that takes advantage of this opportunity.
The international order that has existed since the end of the Cold War is gone and won’t return. Electorates have rejected it, and its limits have become all too apparent. Technology is transforming the world. Old-fashioned great-power competition is returning. In China the U.S. faces a credible economic, technological and military rival for the first time in 40 years.
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