Iran retaliates against Israel and Post-Globalization, Mercantilism 2.0, and the Three Body Problem

Iran retaliates against Israel for bombing its Damascus consulate.  Will this expand the Middle East conflict?  How does it impact on the Indo-Pacific region?  What does it mean for international order?  What does it say about the hegemon's management of the international order?  Biden administration has doubled-down on the trade policies that started with Trump.  In a recent trip to China, Treasury Secretary Janet Yellen blasted China for its industrial overcapacity.  US is even considering banning Chinese electric vehicle imports in name of national security.  On top of that, US are requiring exporters to provide a no-China input certificate for products sold to the US.  Are we now in a post-globalization world?  Have we entered a new era of mercantilism and beggar thy neighbor in this 21st century?  What does it mean to global peace and stability?