Friday 18 November 2016

Economy trumped for good?


To all those who believe the US is doomed with Trump as the President.
People all over the world are aghast with Trump's victory. Fears of increasing racism, discrimination against women, oppression of minorities, xenophobia, etc loom large in their minds. Many fear he'll bring about fundamental changes in economy, market functioning and politics that will affect the present scenario negatively. Some even fear he'll nuke the Middle East.

Somewhere down the line, all of us have given legitimacy to the idea of US hegemony. We are so dependent on US of all developed nations for intervention especially in anti-terrorism programmes, world trade and climate change control that we forget it has issues of its own to deal with.
People in US are highly dissatisfied in spite of the prosperous 'global image' of the country. It is in a heavy debt of $17.8 trillion, markets are virtually eaten up by foreign goods; why can't the US be entitled to some protectionism? Trump's policy is essentially of non-intervention and putting the nation first. The whooping majority with which Republicans swept the polls is a clear indication of the sentiment in the US. The Head of State is a directly elected representative who ought to represent the nation in true sense. 

Trump is a businessman. He's neither conservative nor liberal; he's pragmatic. US currently needs a fast economic recovery in terms of international debt repayment and job creations; which Trump has enough experience in. His business career is marked with a few failures but on the whole, he has had huge successes which can be reflected in his economic policies. He's suggested Corporate Tax cuts and deductions in business loopholes and tax exemptions leading to increased state revenue. As per an article in the Economic Times, "Trump understands quite a bit about the way business and economy works, he definitely understands a lot about construction and buildings. So, when the US government embarks on its stimulus and infrastructure build out, he is going to hold his people accountable and they will actually build stuff that will be very useful. One of the things that Larry Summers, former Treasure Secretary, has advocated for a long time is massive stimulus spending on infrastructure in the US given their low interest rate environment and that is exactly what president Trump intends to do. So, it is the best possible medicine for the US economy. It is good news for the global economy."

His intentions of building a 'wall' at the US- Mexican Border received bitter criticism. However, his statement on involvement of a majority of Mexicans in increasing crimes in the US isn't wrong. According to FBI data, Mexicans are responsible for 80% of the crimes, especially in southern states of the US. They are bringing drugs, murderers, rapists, etc. Worse, they are influencing the American population leading to perpetration of crimes. A stricter immigration policy or a 'wall' will ensure only talented and deserving citizens find their way in the US territory.

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