Abstract
The rise and fall of nations is illustrated through the rapidly increasing South–South trade and the decline of trade between North–North and between North–South. The South–South trade has been rapidly expanding over the last few decades; it has overtaken in volume and value the trade between North–North as well as trade between North–South. In 1985 high-income economies contributed about four-fifths of global trade which has declined to less than half by the middle of the 2010s. As geopolitical strategic rivalries are increasing they will lead towards increases in military expenditures. However, situations in which military expenditures vastly increase while the economy is rapidly declining are not sustainable; it spells disaster because the power of a nation rests on its economy in the long run.
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Joshua, J. (2019). The Rise and Fall of Nations. In: The Belt and Road Initiative and the Global Economy. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-28068-0_8
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