Friday, February 3, 2017

Roubini on Trump's Isolationist Policy

America first global conflict next and 0:03 isolation is Trump administration may 0:05 see the wide oceans to east and west the 0:09 historical record is clear protectionism 0:10 isolationism and America first policies 0:14 are recipe for economic and military 0:17 disaster dr. be wonderful to have you at 0:20 with this is it a zero-sum 0:22 administration will it be a zero-sum 0:24 2017 0:27 well the environment and I've years ago 0:29 wrote an article about the g0 world 0:31 where people are thinking about that the 0:32 world as being a zero-sum game 0:35 unfortunately if the u.s. gives up and 0:37 is a multilateral international approach 0:39 is going to think about is on straight 0:42 national interest and that's going to 0:44 create a variety of tension certainly in 0:46 economic foreign policy that is already 0:48 backlash against I trade against 0:50 globalization right against migration 0:52 that's going to be worse and by the US 0:54 policy there is a risk of Trade and 0:56 currency wars that's one dimensional be 0:58 then and there is a geopolitical 0:59 dimension of it in the twenties and 1:01 thirties the u.s. became America first 1:03 isolation is you can not only and they 1:05 led to the rise of aggressive power like 1:07 Germany Japan and then were you worked 1:09 in Washington with the Clinton 1:11 administration ages ago 1:13 do you have a belief that there are 1:14 checks and balances in place to us ways 1:18 to lessen to diminish your concerns 1:21 about a trump administration whether 1:23 checks and balances on domestic policy 1:25 because we're congress with judiciary 1:28 Supreme Court regulatory agencies but as 1:31 we know the US president has more power 1:33 on migration on trade on foreign policy 1:37 on security and on those areas they get 1:40 from the administration my go in 1:42 Direction might become increasingly 1:43 dangerous for the US and the world 1:45 economy a professor of me if I look back 1:49 and think about the nineteen-thirties 1:51 into the forties and then what the world 1:53 looked like after that period 1:55 I'm trying to understand kind of what 1:56 what's the best sort of way of way of 1:59 understanding this this because we live 2:00 in a nuclear world now and i'm just 2:02 wondering whether nucleus mutually 2:03 assured destruction still works whether 2:05 all those kind of cold war theories can 2:08 be applied to this new world in which he 2:09 talked about 2:10 well certainly there is a risk that 2:16 eventually if we become more unilateral 2:18 is there is a global conflict and the 2:20 difference between the world to and now 2:23 is that there is a rising number of 2:25 powers are becoming nuclear I mean if 2:27 the u.s. gives up on euros and its 2:29 allies you're going to rush on one side 2:32 becoming more aggressive in ukraine in 2:34 the Baltics and the Balkans in the 2:36 middle east at that time where Europe 2:38 and the eurozone is in the process of 2:40 these integration my biggest worry is 2:42 that weapon is going to come to power in 2:44 France and the answer your question you 2:46 really got a rumor 2:47 I mean that's really sweet guy Johnson 2:49 is front and center I certainly think 2:51 that the potential of Cold War is very 2:54 low but part of the reason for that is 2:55 because you're not going to c-block 2:57 behavior right and when the cold war 2:59 happen the United States had all these 3:01 allies that was with the u.s. clearly 3:03 Trump is setting up for us China 3:05 confrontation that won't be very 3:07 well-managed but American allies in Asia 3:10 are looking at the United States and 3:12 saying this is not a safe router us we 3:14 have to rely on ourselves and we're 3:15 gonna have to work more closely with the 3:17 Chinese economically traditional allies 3:19 in the u.s. in the Middle East 3:20 alternative problem

 Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics

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