RBA Warns Geopolitical Upheaval Shows ‘Peace Dividend Is Over’

The world is shifting from a period of post-Cold War stability and integration to one where rising geopolitical risks and strategic rivalry are forcing governments and companies to build costly safeguards, a senior official at the Reserve Bank of Australia said Friday.

“The international security and economic system is undergoing seismic adjustment – on a scale and speed unseen in eight decades,” said Bradley Jones, RBA assistant governor charged with oversight of the financial system. “The strategic environment is becoming more contested and complex.”

Global tensions driven by wars in the Middle East and former Soviet Union and a ...