Pragmatism is likely to trump populism
There is good reason to expect Donald Trump will govern differently from his campaign’s radical populism, writes Nouriel Roubini
Now that Donald Trump has unexpectedly won the US presidency, it is an open question whether he will govern in accordance with his campaign’s radical populism or adopt a pragmatic, centrist approach. If he governs in accordance with the campaign that got him elected, we can expect market scares in the US and around the world, as well as potentially significant economic damage. But there is good reason to expect that he will govern very differently. A radical populist Trump would scrap the Trans-Pacific Partnership, repeal the North American Free Trade Agreement and impose high tariffs on Chinese imports. He would build his US-Mexico border wall; deport millions of undocumented workers; restrict visas for the skilled workers needed in the tech sector; and fully repeal Obamacare. Overall, a radical Trump would significantly increase the US budget deficit. He would sharply reduce income taxes on corporations and wealthy individuals. And while he would broaden the tax base and encourage...
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