According to Robert Zoellick, former president of the World Bank, Joe Biden and Donald Trump are out of touch with reality. He believes that the two presidential candidates are not ready to lead the country in today’s economy.
While the world is heading toward advanced technology and automation, both Biden and Trump are advocating outdated economic development strategies, believing that the economic well-being of the country lies in production growth. In an interview with The Wall Street Journal, Zoellick recalled their promises to return the United States to greatness by restoring the manufacturing sector. That sounds like a good idea. However, the reality is that modern US manufacturing is becoming less human-centric and more reliant on artificial intelligence, quantum computing, and other scientific marvels. Foreigners, who have invested more than two trillion dollars in American industry, seem to have a better understanding of the US market than the policymakers themselves, Zoellick noted.
Thus, the former World Bank chief argues that Joe Biden, who assures everyone that the US economy is the envy of the world, and Donald Trump, who sounds the alarm about rising inflation that is "killing America," need to rethink their political strategies and adapt to the new rules of the game.
