There are many experts disapproving Donald Trump’s politics and now there is quite a number of people opposing his economic policy. Both kinds of dissenters agree that it is the US President’s ambitions to blame. It seems the White House administration almost does not care about the country’s economic condition despite the ongoing trade wars.
“This is obviously a source of enormous frustration for those of us who practice the art and science of economics. But by now, the verdict is self-evident: Trump and his team continue to flaunt virtually every principle of conventional economics,” Stephen Roach, former Chairman of Morgan Stanley Asia and a senior fellow at Yale University, wrote. Observers start to suspect that Trump simply wants to show the whole world that he can do anything, disguising his intentions with loud statements about protection of the US producers. The conflict with China confirms this theory. Tariffs and sanctions could be smoke and mirrors hiding the desire to achieve technical and military domination. However, geostrategic and economic forces are inseparable. Paul Kennedy, a British historian based at Yale, said that the cost of military force demonstration almost surpasses the country’s shaken economic base and the situation of “imperial overstretch” appears.
Of course, the United States, being a super power, can afford such ambitions, but the economy will be at risk. Still, Trump’s administration is sure that the current economic cycle allows the state to play this game. However, this strategy will be successful only if China gives way, which is unlikely.
