President Donald Trump, following his return to office, has totally blown up the international trade framework and that can only mean bad news for Americans, renowned economist Paul Krugman argued in his email newsletter.
“The world trading system as we knew it lasted for three generations after World War II,” explained Krugman, the winner of the 2008 Nobel Memorial Prize in Economic Sciences.
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“It was a rules-based system, in which everyone considered the U.S. a reliable, trustworthy partner,” he noted. “But now US economic relations with other nations have turned abusive, and the world is moving toward divorce.”
The outcome?
