Currency exchange -> Reserve Currency (USD swap line)
Reserve currency comes from US trade + military superpower
Also legal regimes ultimately mean nothing w/o force to back them, particularly if you have habitual line-stepping regimes who fancy themselves hegemons
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Feels like there’s a few different things that can underwrite a rules-based order with teeth, besides military power (which includes embargos/blockades)
Veto-based legal regimes (UNSC)
Currency exchange rates (WB/IMF)
Technical-standards based (ITU etc)
Refugee policies
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