Trump is disrupting balance of global economy: analyst

October 22, 2019

TEHRAN – Iranian Economic Expert and Analyst Mohammad-Ali Kazemian believes that Donald Trump has disrupted the balance of the world economy and the rules of world trade since he took power.

“Before Trump came to power, we saw the global economy abiding by specific rules and regulations. The new American president, being in power, broke all those rules and equations.” Kazemian said in an interview with the Tehran Times.

This is a clear indication that how the U.S. policies and actions will end up harming the world economy and trade, he noted.

"Multinational companies and enterprises have suffered the worst from Trump's presence in power. Such corporations adjusted their businesses based on free trade rules, but now Trump has broken all those rules. For example, France’s Peugeot Corporation has been eager to establish trade relations with Iran, however the United States, with its irregular pressures and behavior, prevented this from happening.” 

“White House has tied the global economy to its own economic interests, and this is not acceptable at all," Kazemian said.

The Analyst believes that even though Trump’s actions has had many catastrophic consequences for the global economy, some good has come out of it too.

To put it in his words, “Trump's presence, despite being a threat to the world economy and free trade, has resulted in emergence of some valuable concerns among many countries. Economic powers such as Russia and China, and emerging markets like India and Brazil and even Europe have become aware of the negative impact of U.S. hegemony on their economies and therefore are taking measures to reduce their reliance on the United States.”

For instance, China and Russia are moving toward doing trade in their national currencies. Other emerging economies have also come to the same conclusion, acknowledging the fact that America's economic dominance over the world will result in insecurity of their businesses and economic environment, seeking to free themselves of the "American economic unilateralism."

EF/MA

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