The Potential Impact of Trumponomics on Development Aid
- The impact of the Trump administration’s potential withdrawal from the values of globalisation that have underpinned the vast majority of foreign aid agencies since WWII is discussed. Two megatrends are offered for discussion, one is the transition from globalisation to de-globalisation the other one is the transition from neoliberal ‘Aid-for-Trade’ to mercantilist ‘Trade-not-Aid’. Subsequent scenarios are offered, specifically how the USA’s retreat from soft power diplomacy to harder military power will affect the social and political principles maintained since WWII. In conclusion, the discussion turns to the impact of USA’s potential retreat as a global development aid leader and afford China dominance within a context of Beijing Consensus as a global player in development aid and the decline of neoliberal ideology as it relates to development aid.
