Economic Warfare: A Study of U.S. and China Strategy Using the Economic Element of National Power

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Following the fall of the Soviet Union in 1991, the United States stands alone today as the only global superpower remaining. Many political scientists have speculated that our nation will enjoy this status for many years to come with only China as a possible near peer competitor in the next 25 years. Today, China is rising-peacefully so far. Its focus remains on economic development and winning acceptance as a great power. The U.S. military forces dominate the battlefield today, but recent operations have demonstrated that victory cannot be achieved through the traditional annihilation of enemy forces alone. The United States can only achieve victory through the quiet synchronization and integration of all elements of national power. Current operations in Kosovo, Afghanistan, and Iraq provide poignant examples of the future nature of warfare. This change in warfare requires the United States to shift from a 20th century annihilation approach toward a full spectrum approach which engages all elements of national power. America has at its disposal the elements of national power (diplomatic, information, military, and economic) to support the U.S. National Security Strategy. The use of these elements of national power protects and allows the United States to remain the lone superpower in the world today. The efficient and effective use of America's assets is critical in support of the National Security Strategy. One element of national power that is of critical importance because of the recent explosion in technology and globalization is the economic arm. This monograph will compare the economic arm of national power for both the U.S. and China.