Analysis & Opinions - Project Syndicate

Power and Interdependence in the Trump Era

| July 03, 2019

US President Donald Trump has been accused of weaponizing economic globalization. Sanctions, tariffs, and the restriction of access to dollars have been major instruments of his foreign policy, and he has been unconstrained by allies, institutions, or rules in using them. According to The Economist, America derives its clout not just from troops and aircraft carriers, but from being the central node in the network that underpins globalization. "This mesh of firms, ideas and standards reflects and magnifies American prowess." But Trump’s approach may "spark a crisis, and it is eroding America's most valuable asset — its legitimacy."

Trump is not the first president to manipulate economic interdependence, nor is the United States the only country to do so. For example, in 1973, Arab states used an oil embargo to punish the US for supporting Israel in the Yom Kippur War....

For more information on this publication: Belfer Communications Office
For Academic Citation: Nye, Joseph S. Jr.“Power and Interdependence in the Trump Era.” Project Syndicate, July 3, 2019.