The Return of Trump: Shifting from Pax Americana to a New Global Order
Trump’s rhetoric is powerful, for those who fail to see how hollow it is; he will erode American greatness, and damage the rest of the world as well
Trump’s rhetoric is powerful, for those who fail to see how hollow it is; he will erode American greatness, and damage the rest of the world as well
Donald Trump has assumed office on the same day that the US celebrates Martin Luther King Jr’s birth anniversary. It is happenstance that the presidential handover day, Jan 20, falls on the third Monday of Jan when King Jr’s birthday is celebrated, although he was born on Jan 15. It is not a happy coincidence, however. Trump represents and champions the very opposite of the values for which the civil rights activist fought and was killed.
US president Donald Trump’s actions, including withdrawing from the World Health Organisation and the Paris Accord, have sent alarm bells across the world.
Were China to fetch up in the American hemisphere – a naval presence in Panama’s waters for instance – will the world complain about the counterbalance to US unipolarity?
It is conventional wisdom to hail Manmohan Singh as the author of India’s economic reforms. This is misconceived. That credit goes to PV Narasimha Rao. Only a prime minister can strategise and execute a paradigm shift in the nation’s economic policy. He would need a number of technocrats to carry out that job intelligently, and Manmohan Singh, as Rao’s finance minister led a team of able technocrats, among whom we should note the likes of Montek Singh Ahluwalia, Shankar Acharya and C Rangarjan at the Reserve Bank of India (RBI), India’s central bank. To call Manmohan Singh the author of economic reforms is like saying that contract manufacturers Foxconn and Pegatron make the iPhone, and not Apple.
The year 2025 will be marked by disruption — in global economic interactions and geopolitics, and in the way factories produce and how companies are run. Growth is likely to slow down in most parts of the world.