10 January 2026

The Transactional Trap

Michael Brenes

The post–World War II order is dead. In its place, countries are fast adopting a values-neutral, transactional approach toward foreign policy. China was the progenitor of this approach to international relations: for over a decade, Beijing has pursued quid pro quo arrangements with countries around the world to create new markets and enhance its economic reach, generating diplomatic ties with both autocratic and democratic states. It has established itself as a great power through a model of state-capitalist economic development that eschews universal human rights or concerns about its trading partners’ system of government. Its lending practices may be

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