This article is a bit unusual by the standards we usually apply in Five Links. It’s an overview of the recent developments in financial warfare (what the author calls Hybrid Warfare”) put in a broader historical context.

The author sees the global great power rivalry consisting of a struggle among Russia, China and the U.S. He discusses financial weapons being used in this war alongside cyberweapons and traditional military responses.

The article also points out the relatively small role that Hong Kong plays both in the global economy and as a percentage of Chinese GDP. (Hong Kong’s role has always been more important as a financial and telecommunications hub than as a manufacturing powerhouse.)

The article also brings in historical antecedents including Clausewitz and the much older fall of the Khmer Empire in Cambodia. Interesting comparisons are additionally drawn between events in Hong Kong today and the Maidan revolts in Kiev in 2014.

This article is a good way to escape from conventional wisdom and repetitious reporting.

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