The lessons for developing economies are clear. Not only is globalized trade being upended, but financial globalization is bound to become even less appealing to countries seeking stable, long-term financing to support their development goals.
Trump is determined to dismantle the global economic order, which in his view allows other countries to take advantage of the US. In response, many developing economies will likely begin to reconsider their participation in – and subordination to – an unequal system that no longer serves their interests. But the road ahead will remain perilous until a credible alternative takes shape.
Trump is determined to dismantle the global economic order, which in his view allows other countries to take advantage of the US. In response, many developing economies will likely begin to reconsider their participation in – and subordination to – an unequal system that no longer serves their interests. But the road ahead will remain perilous until a credible alternative takes shape.
