The Davos Man, Under Attack
Globalization in the Trump era: we check in on Davos and the globalizers under fire.
You could hardly write a more anti-globalization speech than the one Donald Trump delivered Friday, on the day of his inauguration as president. America first and only America first, he said. Other countries, he said, had stolen American companies and destroyed American jobs. It was a long way from the free trade mantra of Ronald Reagan. And a long, long way from the globalizing elect of Davos, also meeting last week. This hour On Point, Davos versus Trump on globalization. — Tom Asbhrook
Martin Wolf, chief economics commentator for the Financial Times. (@martinwolf_)
Ken Rogoff, professor of public policy and professor of economics at Harvard University. Former chief economist at the International Monetary Fund. Author of “The Curse of Cash.” (@krogoff)
Jeff Ferry, research director at the Coalition for a Prosperous America.
From Tom’s Reading List
Financial Times: Does Trump’s rise mark the end of Davos Man’s influence? — “Make no mistake: Mr Trump could bring down the temple of world trade. If he were to impose punitive (and unjustifiable) tariffs on Chinese imports, the EU is likely to follow suit in order to protect its producers from a surge of Chinese imports. China would then feel obliged to retaliate. The system of trade rules could collapse.”
BuzzFeed News: Behind Closed Doors At Davos: “Make Elites Great Again” — “The scene at Davos this year was something verging on panic. Politicians and ‘thought leaders’ (a term used unironically at the elite gathering) grappled with the wave of populism sweeping the planet. The specter of Brexit and Trump hung over everything. European defense ministers, namely those from Germany and the Netherlands, gathered to openly discuss what it would mean to defend the continent without US support. Top Ukrainian officials pleaded not to be forgotten as Europe grapples with its own issues.”
The Hill: Peter Navarro is right: The trade deficit is a disaster for the U.S. economy — “President-elect Trump’s appointment of Peter Navarro to a new National Trade Council has alarmed some traditional economists. Professor Navarro, co-author of a book and film called ‘Death By China’ really believes that the U.S. must do something to address its $500 billion trade deficit and that China, a country that has run an enormous trade surplus with the U.S. and many other countries, is part of our problem. And aggressive action, possibly even including tariffs, may be warranted.”
Copyright 2021 NPR. To see more, visit https://www.npr.org.