The possibility of former President Donald Trump returning to office has the world speculating about the future of the global economy. With the United States being the largest economy, changes in its trade policies could have far-reaching impacts worldwide.
In a recent discussion, a panel of experts weighed in on what a “Trump 2.0” administration might mean for international trade and economic dynamics.
Shifts Toward Protectionism
“A return to protectionist policies could disrupt global supply chains,” said Joel Ruet, founder and chairman of The Bridge Tank. He emphasized that increased tariffs and trade barriers might lead nations to rethink their economic strategies.
Impact on Emerging Economies
Warwick Powell, adjunct professor at Queensland University of Technology, highlighted the potential challenges for developing countries. “Emerging economies in the Global South may face hurdles accessing key markets,” he noted, “which could slow down their growth.”
Reforms in Global Governance
Xing Yuqing, professor of economics at the National Graduate Institute for Policy Studies in Tokyo, stressed the importance of adapting global governance structures. “International institutions need to be more inclusive and responsive to changes,” he said.
Opportunities for Cooperation
Liu Baocheng, dean of the Center for International Business Ethics at the University of International Business and Economics, believes that challenges could pave the way for new collaborations. “It’s a chance for countries to strengthen regional partnerships and promote sustainable development,” he suggested.
As the world watches the political developments in the United States, economies across the globe are preparing for possible shifts. The emphasis remains on fostering dialogue and cooperation to navigate the uncertainties ahead.
Reference(s):
cgtn.com
