International Relations expert Marcos Troyjo has evaluated on Tuesday, 8, that the tariffs announced by US President Donald Trump will be expensive to the country and start from a wrong diagnosis about the causes of the world’s largest economy’s loss of competitiveness.
“For example, today, 60% of the American population cannot have functional literacy. Today, Mexico form more engineers per year than the United States. So you have other points. They are looking at the wrong place, and I think they will pay a high price for it,” Troyjo said during Bradesco BBI’s investment forum.
According to the diplomat, who was once secretary of foreign trade and international affairs of the Ministry of Economy, as well as president of the Bank of the BRICS, the trade war opened by Trump in his first term did not work, as the prolonged period of globalization caused the economies to become more interdependent.
Troyjo noted that all economic miracles since World War II were associated with vibrant foreign trade which has not weakened the United States, whose unemployment has been below 5% in half the last 25 years.
Political scientist and professor of international relations at FGV Oliver Stunkel, who divided the panel with Troyjo, said Trump’s government rejects a consensus between Republicans and Democrats that globalization would be the best strategy for facing Chinese ascension. This is because the risk represented by the Asian giant would diminish the economic interpendence between countries.
“The best strategy would be an economic approximation with China instead of containing the rise of powers that could challenge the United States. It is worth remembering that the United States avoided the rise of four great powers during the twentieth century: the German Empire, the imperial Japan, the Nazi Germany and the Soviet Union. Contrary, it was to bring these powers close, ”he noted.
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According to Stunkel, the second pillar broke by Trump was in the conception that the American military presence would ensure a certain global stability, avoiding, for example, wars in Europe. Finally, the third pillar demolished by the current president of the United States lies in the preference shown by previous governments in the relationship with democratic powers. Trump, pointed out the teacher, demonstrates slight preference to negotiate with authoritarian leaders from China, Turkey and Russia.
For the expert, after failing to implement his agenda in the first term, due to the resistance of more orthodox advisers, Trump returned to power with a different team to put in action what he always wanted.
