Abstract
ABSTRACT
In the last few years, many states around the world have faced a series of shocks to their economies—from the seizing up of global supply chains to the weaponization of trade and finance—that have catapulted concerns about how to strike a balance between risk, reward, and resilience into the center of public discussions and policy-making. This Article provides a new Risk, Reward, and Resilience Framework, which synthesizes and integrates insights from diverse disciplines and domains. I set out the drivers of each element, how they are connected, and resulting policy choices. To illustrate its practical application, I apply Risk, Reward, and Resilience Framework to two case studies involving economic interdependence: the COVID-19 supply chain shock and China’s economic coercion of Australia. In doing so, I provide policymakers with a new mental model for thinking about and working through complex policy challenges.
Funder
Defence Science and Technology Group
Publisher
Oxford University Press (OUP)
Subject
Law,Economics, Econometrics and Finance (miscellaneous)
Cited by
1 articles.
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