Illustration: Craig Stephens
Stephen Roach
Opinion

Opinion

Stephen Roach

Why Donald Trump can’t make America great again by replicating Ronald Reagan’s script

  • Unlike Reagan who targeted Japan in the 1980s, Trump – who seeks to make China a scapegoat – has inherited a US economy with a chronically low savings rate and that is much more globally integrated
  • Without the US raising national saving, trade will simply shift from China to other countries

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Illustration: Craig Stephens
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