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Palgrave Macmillan

The Global Trump

Structural US Populism and Economic Conflicts with Europe and Asia

  • Book
  • © 2019

Overview

Authors:
  1. Paul J. J. Welfens

    1. European Institute for International Economic Relations (EIIW), University of Wuppertal, Wuppertal, North-Rhine Westphalia, Germany

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  • Confronts the global challenge of having a populist US president
  • Explains why Trump's high-risk fiscal policy is likely to implode
  • Makes recommendations for applying Europe's Social Market Economy to Asia and the US

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About this book

"This book is able to explain and analyze what has eluded both scholars and thought leaders in business and the media - how and why populism has grabbed center stage. Highly recommendable."
-David B. Audretsch, Indiana University Bloomington, USA

 "Welfens provides valuable insight into US politics and describes the strategic options for Europe going forward."
-Barry Eichengreen, University of California, Berkeley, USA

 "With great skill Welfens traces the implications of US populism for the global economic system."
- Jeffrey D. Sachs, Columbia University, USA

 "This critique of Trump´s fiscal and international trade policies and their weak intellectual basis deserves the attention of US and European readers alike"
-Richard H. Tilly, University of Münster, Germany 

What lies behind the Trump victory of 2016 and the US' new raft of economic policies? Is a populist presidency in the United States likelyto be a temporary phenomenon or a structural long-term challenge? In an era of declining multilateralism, what can the US still stand to learn from Europe, where several countries have effective lifetime economic welfare equal to that of the US - and what can the EU learn from the US in return? Furthermore, what international economic dynamics can be expected from the Sino-US trade conflict and can globalization be maintained? In this timely volume, Paul Welfens provides a rare, clear-sighted and scholarly analysis of the global problems created by Trump's protectionism and economic policy. He leverages his understanding of these problems to make concrete policy suggestions that could help prevent the world economy from falling back into a variant of the Great Powers regime of the late nineteenth century.


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Table of contents (10 chapters)

  1. Front Matter

    Pages i-xxx
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  2. The Background to Trumpism and Economic Explanations

    1. Front Matter

      Pages 1-1
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    2. Introduction

      • Paul J. J. Welfens
      Pages 3-17

    3. Inequality, US Survey Results and Economic Analysis: The Case for Structural Trumpism

      • Paul J. J. Welfens
      Pages 19-100

    4. Protectionist US Policy and Expansionary Fiscal Policy: Ongoing Contradictions

      • Paul J. J. Welfens
      Pages 101-138

  3. Transatlantic Economic Relations

    1. Front Matter

      Pages 139-139
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    2. Trade, Employment and Transatlantic Policy Aspects

      • Paul J. J. Welfens
      Pages 141-166

    3. EU Reform Problems and the Rise of Populism in Europe

      • Paul J. J. Welfens
      Pages 167-195

  4. Back Matter

    Pages 197-215
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  5. USUnited States-Asian and Global Economic Perspectives

    1. Front Matter

      Pages 217-217
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    2. US-Asia-EU Perspectives

      • Paul J. J. Welfens
      Pages 219-240

    3. China Risks and Challenges

      • Paul J. J. Welfens
      Pages 241-250

  6. Policy Innovations and Systemic Reforms

    1. Front Matter

      Pages 251-251
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    2. Policy Conclusions for International Organizations

      • Paul J. J. Welfens
      Pages 253-260

    3. International Policy Conclusions

      • Paul J. J. Welfens
      Pages 261-280

    4. Canada , the US and Eurozone : Implications for US Reforms

      • Paul J. J. Welfens
      Pages 281-306

  7. Back Matter

    Pages 307-356
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Authors and Affiliations

  • European Institute for International Economic Relations (EIIW), University of Wuppertal, Wuppertal, North-Rhine Westphalia, Germany

    Paul J. J. Welfens

About the author

Paul JJ Welfens is Jean Monnet Professor for European Economic Integration and Chair for Macroeconomics at the Schumpeter School of Business and Economics, and President of the European Institute for International Economic Relations at the University of Wuppertal, Germany. He is Non-Resident Research Fellow at the AICGS/The Johns Hopkins University, Washington DC.


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