2018-07-30 11:36:00 Mon ET
technology antitrust competition bilateral trade free trade fair trade trade agreement trade surplus trade deficit multilateralism neoliberalism world trade organization regulation public utility current account compliance
Trumpism may now become the new populist world order of economic governance. Populist support contributes to Trump's 2016 presidential election victory and his key embrace of trade protectionism and accommodative fiscal stimulus. Trumpism echoes Carl Schmitt's fundamental critique of modern liberalism. This core critique reflects disdain for the universal aspirations such as absolute individual liberty and economic freedom.
Liberals place individual rights at the core of their political communities. In principle, these rights extend to every citizen, so absolute American liberty can be a decent idea. However, this liberal school of thought makes U.S. states vulnerable to the aggressive demand by domestic private interest groups and foreign nations. This latter retort reflects the key centerpiece of Trump's presidential election campaign.
As dominant market players such as China and Russia refuse to play by the rules of liberal economic governance, the Trump administration has to engage these players in a wider G20 circle.
China's recent economic rise suggests that the millennium world order of economic governance should be more inclusive. As Trump suggests at the G7 world summit, Russia should also be part of this new populist world order. Another addition can be India that represents a 1.3 billion population-dividend-equivalent to China. For this reason, Jim O'Neill, former chief economist at Goldman Sachs, advocates the fresh insight that we should broaden the practical scope of the G7 summit. Instead, a G10 summit or even a G20 summit must encompass all major market economies.
This inclusive approach emphasizes the new populist world order on key economic issues from global capital control and credit supply expansion to climate change and environmental degradation.
If any of our AYA Analytica financial health memos (FHM), blog posts, ebooks, newsletters, and notifications etc, or any other form of online content curation, involves potential copyright concerns, please feel free to contact us at service@ayafintech.network so that we can remove relevant content in response to any such request within a reasonable time frame.
2019-04-15 08:37:00 Monday ET

Chinese Belt-and-Road funds large international infrastructure investment projects primarily in East Asia, Central Asia, North Africa, and Italy. Chinese Be
2020-06-17 09:23:00 Wednesday ET

Successful founders focus on their continuous growth, passion, perseverance, and the collective wisdom of most team members. William Ferguson (2013) &
2019-06-03 11:31:00 Monday ET

The Sino-U.S. trade war may be the Thucydides trap or a clash of Caucasian and non-Caucasian civilizations. The proverbial Thucydides trap refers to the his
2017-01-23 09:30:00 Monday ET

There are several highlights from the first news conference after Trump's presidential election victory: The Trump administration will repeal-and-
2019-08-04 08:26:00 Sunday ET

U.S. and Chinese trade negotiators hold constructive phone talks after Presidents Trump and Xi exchange reconciliatory gestures at the G20 summit in Japan.
2023-02-07 08:26:00 Tuesday ET

Michel De Vroey delves into the global history of macroeconomic theories from real business cycles to persistent monetary effects. Michel De Vroey (2016)