Decoupling to hurt both democratic, autocratic economies: white paper

The global economy faces a “crisis of division” on the back of an intensifying U.S.-China technology war, the Japanese government warned Tuesday in a white paper, saying a severe economic decoupling between democratic and autocratic states would deal a blow to both sides.

The government underscored the importance of rebuilding a rules-based trade order, developing resilient supply chains, and strengthening cooperation with developing and emerging countries collectively called the Global South to restore confidence in the global economy.

It presented a scenario in which the world is broadly div...