Donald Trump attended a conference
of the world’s financial and political elite this week in Davos, Switzerland.
The only US President other than Bill Clinton to ever attend the conference,
Trump’s rhetoric of isolationism and his actions of pulling out of the TPP have
left the group of elite worried that the US would end their movement of a
global market. However, this year, the Davos conference welcomed Trump and was
excited about the tax cuts that the Republican party just passed. In comparison
with many political leaders who claim the tax law benefits the wealthy, the
billionaires of Davos applaud it because of its cuts to regulations.
While the tax bill has won over many
of the world’s business elites, other aspects of Trump’s presidency have kept
them concerned. One liberal financial trader called Trump the new wave of
authoritarian ruler, financial leaders from South Africa are reeling from
Trumps disparaging comments earlier this week, and many others are seriously
concerned about the United States “disengaging from the global trade arena.”
While reading, I wondered again
about the perception of the United States abroad, even in circles that Donald
Trump may have previously considered more welcoming towards him, as a former
businessman. I also wonder how much of an effect the unpredictability of Trumps
actions and words will have on the economic standing of the US, even after he
leaves office.
1 comment:
It is a generally accepted opinion that Trump is pushing for a less globalized the United States. It is also undisputed that Trump is regularly criticized by world leaders on his demeanor, policy, and loose tongue. However, it is hypocritical when a country like South Africa, previously led by the global icon and man of principal Nelson Mandela, criticises the United States on its "authoritarian leadership" following a 34 place drop in Transparency Internationals global Corruption Perception Index. As the United States Tax cuts will be hugely beneficial to foreign investors and the wealthy, the South African government will undoubtedly reap severe rewards from Trump's behavior. As you do, I continue to worry about the global perception of the United States and can only hope that relationships between the United States and other global leaders improve for our sake and the sake of the global economy. One would think that stepping back from a global economy is no answer to the economic problems of the United States.
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