Commentary
Every major nation-state faces an existential threat in terms of economic viability, partly because the global strategic climate of distrust no longer favors high debt levels.
This is not, in hard terms, because economic viability and (therefore) long-term security are no longer achievable, but because the factors of prestige and trust that empower and animate strategic success are being ignored.
The visible dominant threats to most societies result from matured economic tendencies, particularly in the accrual of debt, the constraint of growth, or domestic polarization, rather than from external sources. Inertia often sustains laggard, complex economies until the removal or decline of prestige eventually means that a national currency and national borrowing power become unsustainable….