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One of Trump’s first moves as president was to establish a White House National Trade Council under the directorship of Peter Navarro, the author of the book , which takes aim at US-China trade policies.The substance of the new policy is “repatriation” of international supply chains (especially those involving China) and the construction of alternative “domestic” supply chains within the US.Trump’s decision on 2 June 2017 to pull out of the Paris Climate Agreement was also dressed up by him as a defence of “Pittsburgh” rather than Paris, suggesting a deepening of a long strand of Republican “isolationism” cloaked with economic nationalism.
he election of Donald Trump as president of the United States crystallised fears among sections of the financial elite that the world economy was beginning to spin towards a new era of protectionism.
His approach is affirmed by the work of John Ralston Saul, who has suggested that after 1995 (his considered “high-point” of globalisation) nationalism and ethnic and religious fundamentalism have all but destroyed the dream of a liberal world order and accentuated division in the political and economic spheres.
The book articulated doubts about the “hyperglobalisation” thesis predicting the end of the nation state, by pointing out that the overwhelming majority of foreign direct investment (FDI) was not between Global North and South but was exchanged between the rich nations, and more often than not within the same corporations over national boundaries.
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