The worst-case scenario for the economy under Trump just happened in another country
It is hard to compare Donald Trump to anyone else in American politics, especially when it comes to the economy. The president-elect plans to combine restrictions on goods imported from abroad, which are usually advocated by liberal politicians, with conventionally Republican policies, such as tax relief for the wealthy and major corporations, along with more federal borrowing.
More than any U.S. politician's platform, Trump's agenda on the economy resembles those of populist leaders abroad. In particular, the policies he has proposed are very similar to those of Dilma Rousseff, the former president of Brazil who was ousted from office in August.
As Trump has planned to do, Rousseff enforced restrictions on imports. She promised new spending on infrastructure and granted generous subsidies to corporations with the goal of stimulating the economy, especially manufacturing. “It’s a very similar program,” said Riordan Roett, a political scientist at Johns Hopkins University and an expert on Latin America.
While there are a number of important differences between the Brazilian and U.S. economies, Rousseff's policies arguably offer a cautionary example for newly empowered Republicans in Washington. The Brazilian economy is in a severe and persistent recession. Gross domestic product contracted 3.8 percent last year, according to the International Monetary Fund, which projects a decline of 3.3 percent this year.
more
https://www.washingtonpost.com/news/wonk/wp/2016/11/21/the-worst-case-scenario-for-the-economy-under-donald-trump/?wpisrc=nl_headlines&wpmm=1
= new reply since forum marked as read
