America faces ‘economic reset’ with Trump Presidency, says head of Bucks Business School

News

Date: 19th Jan 2017

Ahead of Donald Trump's inauguration as the 45th President of the United States of America, Richard Bingley, Director of Bucks Business School, says much of his success could rest on whether his new economics team can deliver on promises to benefit working families in industrial heartlands.

Mr Bingley said: "President Trump's inauguration ushers in a clear reset on US economic policy.

"Four key forces related to the economy will impact the Trump Presidency. Levels of national debt (huge in the US and EU), the stability and posture of China, relations with Russia, and the influence of disruptive technology, will each play a part in determining the success of his term.

"Brexit and the Eurozone are not major influences on present Trump team thinking. The Trump Administration fully expects Britain and other states to withdraw from EU membership during his term, according to his new EU Ambassador Ted Malloch, a UK-based academic.

"His economic team are mainly focused on domestic growth, Wall Street and Eastern economies; principally China, Taiwan and Japan.

"During the campaign, Trump's strength was to reach into working families in industrial heartlands as well as connect with dozens of hugely successful entrepreneurs, such as PayPal founder Peter Thiel. On the flip side, he attracted less support from Wall Street and Republicans in Congress for his uncompromising and clear populist economic vision.

"His new economics team, some from Wall Street, address these shortfalls well enough on paper. Only time will tell whether their impressive skill-sets actually match up to the times that we are all about to face."