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Trump’s Gift to China
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[ Trump’s “neo-protectionist” policies – which aim to limit the flow of goods, services, and people to the US – are rooted in nothing other than myopic xenophobia. In the end, this will isolate the US far more than China or Mexico. ]
[ History bears this out. On the eve of World War I, Argentina was among the world’s wealthiest countries, behind the US, but ahead of Germany. ]
[ The rise of nationalism in the 1920s culminated in 1930, when far-right nationalist forces overthrew Argentina’s government.]
[ Since then, Argentina’s economy has deteriorated substantially for two reasons: inadequate investment in education (a mistake that Trump may also make) and heightened protectionism. ]
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[ So Trump’s policy approach can be expected to do great damage to the US economy and have far-reaching implications, given America’s prominent global role. But self-imposed economic isolation, combined with an inward-looking “America first” foreign-policy approach, will also create space for other countries – including China, India, and Mexico – to increase their own international clout. ]