Holiday cheer from @adamtooze

"In this politicised tripolar world economy — formed by the US, EU and China — the basic source of tension is the confrontation between Washington and Beijing. On top of Russia’s attack on Ukraine, escalating tension over Taiwan made 2022 the year in which a third world war became a real tail risk."

https://www.ft.com/content/c609f8c6-9484-4c1f-945d-5dc5b208e615