ECONOMY
DESPITE THREATENING RUSSIA with massive sanctions in the run-up to its full-scale attack on Ukraine, the West failed to deter the Kremlin. Whether Moscow did not think the threats were credible or the signaled costs weren’t high enough, sanctions are now aimed at a different purpose: constraining Russia’s financial, economic, technological, and military capabilities as the war goes on.
China, Taiwan, and the West are each drawing their own lessons. Western governments, for one, have learned
