Looking back at the First World War, Could it Happen Again?

Worthwhile read from The Economist on the idea that past can be prologue. Specifically, are their parallels between the First World War and current times?

An except:

Yet the parallels remain troubling. The United States is Britain, the superpower on the wane, unable to guarantee global security. Its main trading partner, China, plays the part of Germany, a new economic power bristling with nationalist indignation and building up its armed forces rapidly. Modern Japan is France, an ally of the retreating hegemon and a declining regional power. The parallels are not exact—China lacks the Kaiser’s territorial ambitions and America’s defence budget is far more impressive than imperial Britain’s—but they are close enough for the world to be on its guard.

Which, by and large, it is not. 

Read the entire article here... 

Source: 

http://www.economist.com/node/21591853/