The Five Eyes in Crisis
Written by: (Contributed) on 17 June 2020
In early June an announcement that the elite Five Eyes intelligence organisation composed of the United States, New Zealand, Australia, Canada and the United Kingdom, had agreed to seek closer working relations 'and alliances with economic security emerging as a key strategic threat', revealed underlying problems. (1) All five countries have entered a period of prolonged economic crisis and decline.
New Zealand 113rd
US over 6 per cent in the mid-1980s, falling to under 3 per cent in 2018;
New Zealand 8 per cent in 1971, falling to under 3 per cent in 2018;
Australia 7 per cent in 1970, falling to under 3 per cent in 2018;
Behind the economic criteria lies the growth rate of China, which has surpassed the west. China has now successfully become a competitor with the US, pushing Japan into third place in the global economy. From its second place, China is now regarded as a threat to traditional US-led hegemonic positions, particularly in the Asia-Pacific region.
1. Five Eyes focus on economic pact, Australian, 8 June 2020.
2. World Bank: GDP Growth rates.
3. Wikipedia: GDP Growth rates, Country by Country.
4. GDP Growth rates, Country by Country, Macro-trends/Statistica.
5. Australian, op.cit., 8 June 2020.
6. US economy faces a 10-year recovery, Australian, 3 June 2020; and, Five-year path to recovery, Australian, 10 June 2020.
7. Korea accepts Trump's G7 invite, Australian, 3 June 2020.
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