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What to expect from Biden Presidency? Economic ties to remain a challenge Even as US President-elect Biden makes his first moves towards the White House without a concession from incumbent Trump, Harsh Pant assesses the real import of the choice American voters have made.
As US President-elect Joe Biden makes his first moves towards the White House without garnering a concession from the incumbent, it is time to assess the real import of the choice that American voters have made. This choice and the very nature of it will have an impact on how the global order shapes up in the coming years. For all the talk of American decline, the way most of the world has been obsessed with the Trump versus Joe Biden contest underscores the influence America continues to wield around the globe. In fact, China and Russia, two nations
who never get tired of telling the world that the US is no longer the world’s superpower, are still waiting and watching till every last vote is being counted to officially congratulate the victor! Global economic order has undergone a significant transformation in the last few years. The Trump Presidency and the Covid-19 pandemic have accentuated certain trends with nations moving towards de-globalisation, greater protectionism and attempts towards economic decoupling from China. Trump, in particular, used tariffs liberally to challenge what he considered unfair trade advantages. For the leader of a nation that laid the foundation of modern-day economic globalisation, he was unapologetic in talking about ‘America First’. He was derisive of multilateral bodies like the World Trade Organization (WTO) and withdrew from the Trans-Pacific Partnership (TPP) Agreement covering 40 per cent of the global economy in 2017…Read More