11.11.2017

World's Economic Elite vs Trump

America’s global influence has dwindled under Donald Trump - Endangered:

An old socialist friend of mine used to say that he read The Economist to see what the world's elite were thinking. This is what they think of Mr. Trump.

Reagan, he ain’t

All this is wishful thinking. On security, Mr Trump has avoided some terrible mistakes. He has not started a needless row with China over Taiwan’s ambiguous status, as he once threatened to do. Congress and the election-hacking scandal prevented him from pursuing a grand bargain with Vladimir Putin that might have left Russia’s neighbours at the Kremlin’s mercy. And he has apparently coaxed China to exert a little more pressure on North Korea to stop expanding its nuclear arsenal.

However, he has made some serious errors, too, such as undermining the deal with Iran that curbs its ability to make nuclear bombs. And his instincts are atrocious. He imagines he has nothing to learn from history. He warms to strongmen, such as Mr Putin and Xi Jinping. His love of generals is matched by a disdain for diplomats—he has gutted the State Department, losing busloads of experienced ambassadors. His tweeting is no joke: he undermines and contradicts his officials without warning, and makes reckless threats against Kim Jong Un, whose paranoia needs no stoking. Furthermore, Mr Trump has yet to be tested by a crisis. Level-headed generals may advise him, but he is the commander-in-chief, with a temperament that alarms friend and foe alike.

On trade, he remains wedded to a zero-sum view of the world, in which exporters “win” and importers “lose”. (Are the buyers of Ivanka Trump-branded clothes and handbags, which are made in Asia, losers?) Mr Trump has made clear that he favours bilateral deals over multilateral ones, because that way a big country like America can bully small ones into making concessions. The trouble with this approach is twofold. First, it is deeply unappealing to small countries, which by the way also have protectionist lobbies to overcome. Second, it would reproduce the insanely complicated mishmash of rules that the multilateral trade system was created to simplify and trim. The Trump team probably will not make a big push to disrupt global trade until tax reform has passed through Congress. But when and if that happens, all bets are off—NAFTA is still in grave peril.

Ideas matter

Perhaps the greatest damage that Mr Trump has done is to American soft power. He openly scorns the notion that America should stand up for universal values such as democracy and human rights. Not only does he admire dictators; he explicitly praises thuggishness, such as the mass murder of criminal suspects in the Philippines. He does so not out of diplomatic tact, but apparently out of conviction. This is new. Previous American presidents supported despots for reasons of cold-war realpolitik. (“He’s a bastard, but he’s our bastard,” as Harry Truman is reputed to have said of an anti-communist tyrant in Nicaragua.) Mr Trump’s attitude seems more like: “He’s a bastard. Great!”

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