NOURIEL ROUBINI BLOG tracks the media appearances of Dr Nouriel Roubini his interviews articles debates books news speeches conferences blogs etc..Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics
Friday, February 3, 2017
Roubini on Trump's Isolationist Policy
America first global conflict next and 0:03 isolation is Trump administration may 0:05 see the wide oceans to east and west the 0:09 historical record is clear protectionism 0:10 isolationism and America first policies 0:14 are recipe for economic and military 0:17 disaster dr. be wonderful to have you at 0:20 with this is it a zero-sum 0:22 administration will it be a zero-sum 0:24 2017 0:27 well the environment and I've years ago 0:29 wrote an article about the g0 world 0:31 where people are thinking about that the 0:32 world as being a zero-sum game 0:35 unfortunately if the u.s. gives up and 0:37 is a multilateral international approach 0:39 is going to think about is on straight 0:42 national interest and that's going to 0:44 create a variety of tension certainly in 0:46 economic foreign policy that is already 0:48 backlash against I trade against 0:50 globalization right against migration 0:52 that's going to be worse and by the US 0:54 policy there is a risk of Trade and 0:56 currency wars that's one dimensional be 0:58 then and there is a geopolitical 0:59 dimension of it in the twenties and 1:01 thirties the u.s. became America first 1:03 isolation is you can not only and they 1:05 led to the rise of aggressive power like 1:07 Germany Japan and then were you worked 1:09 in Washington with the Clinton 1:11 administration ages ago 1:13 do you have a belief that there are 1:14 checks and balances in place to us ways 1:18 to lessen to diminish your concerns 1:21 about a trump administration whether 1:23 checks and balances on domestic policy 1:25 because we're congress with judiciary 1:28 Supreme Court regulatory agencies but as 1:31 we know the US president has more power 1:33 on migration on trade on foreign policy 1:37 on security and on those areas they get 1:40 from the administration my go in 1:42 Direction might become increasingly 1:43 dangerous for the US and the world 1:45 economy a professor of me if I look back 1:49 and think about the nineteen-thirties 1:51 into the forties and then what the world 1:53 looked like after that period 1:55 I'm trying to understand kind of what 1:56 what's the best sort of way of way of 1:59 understanding this this because we live 2:00 in a nuclear world now and i'm just 2:02 wondering whether nucleus mutually 2:03 assured destruction still works whether 2:05 all those kind of cold war theories can 2:08 be applied to this new world in which he 2:09 talked about 2:10 well certainly there is a risk that 2:16 eventually if we become more unilateral 2:18 is there is a global conflict and the 2:20 difference between the world to and now 2:23 is that there is a rising number of 2:25 powers are becoming nuclear I mean if 2:27 the u.s. gives up on euros and its 2:29 allies you're going to rush on one side 2:32 becoming more aggressive in ukraine in 2:34 the Baltics and the Balkans in the 2:36 middle east at that time where Europe 2:38 and the eurozone is in the process of 2:40 these integration my biggest worry is 2:42 that weapon is going to come to power in 2:44 France and the answer your question you 2:46 really got a rumor 2:47 I mean that's really sweet guy Johnson 2:49 is front and center I certainly think 2:51 that the potential of Cold War is very 2:54 low but part of the reason for that is 2:55 because you're not going to c-block 2:57 behavior right and when the cold war 2:59 happen the United States had all these 3:01 allies that was with the u.s. clearly 3:03 Trump is setting up for us China 3:05 confrontation that won't be very 3:07 well-managed but American allies in Asia 3:10 are looking at the United States and 3:12 saying this is not a safe router us we 3:14 have to rely on ourselves and we're 3:15 gonna have to work more closely with the 3:17 Chinese economically traditional allies 3:19 in the u.s. in the Middle East 3:20 alternative problem
Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics
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