An Economic NATO?

I think that Jonas Parello-Plesner is whistling past a graveyard in his plea for an “economic NATO” in a Wall Street Journal op-ed:

We don’t have to allow autocracies to pick off democracies one by one. The free world can and should do more, by agreeing to an “economic Article 5”—similar to the North Atlantic Treaty Organization’s Article 5, which states that a military attack on one ally is considered an attack on all.

How would that work? An “alliance of democracies” would come together and agree on such a framework, perhaps at the Copenhagen Democracy Summit in May or the Summit of Democracy President Biden has proposed. A democracy subjected to economic coercion by an autocracy could invoke the new economic Article 5 to summon the unified support of fellow democracies.

The joint response should have a bite. It would move beyond statements of support to actions, through a catalog of retaliatory trade measures. Australia wouldn’t face China alone but would be aided by the combined trade power of the world’s democracies which make up more than half of the world’s economic might.

Beyond the economic impact, the symbolism of such solidarity would be a potent deterrent. Bullies respond to strength and exploit weakness. A coordinated response would make them think twice before acting.

I cannot imagine Germany participating in such an alliance in anything other than name, any more than they are a participating member of NATO in anything but name. The Germans’ view is steadfastly pro-German and I’m pretty sure that they’ll take the resolute position that they don’t really care what happens to other economies, as long as the German economy is the last to be “picked off”.

And without Germany’s participation it simply won’t work.

What might be formed is a stronger alliance of the Anglosphere—English-speaking countries, e.g. the U. S., Canada, U. K., Australia, New Zealand, and even others in Africa and Asia.