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Ten weeks that shook the world
On many fronts, and with deliberate haste, America is vaporising its soft power.
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The speed of America’s turn on itself is historic, says the writer.
PHOTO: AFP
Edward Luce
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Civilisations are not murdered, said the historian Arnold Toynbee. They die from suicide. Though military clout and geographic fortune will sustain America, its republic is flirting with Toynbee’s script. No external threat or domestic cost benefit appraisal would lead a Martian to believe Earth’s greatest power should be in meltdown by its own hand. Whether in China or Canada, or indeed the US, human observers are in disbelief. The speed of America’s turn on itself is historic.
US President Donald Trump was sworn in 10 weeks ago. He inherited an economy with stable inflation and dropping interest rates, but with growth still projected to outstrip any big competitor in 2025. With each fresh Trump salvo on the global economy, US growth forecasts are cut. Assuming he will supply more fuel for downward revisions – most likely with his “liberation day” of reciprocal tariffs on the rest of the world – America seems bound for recession this year. This would be a recession of choice – Mr Trump’s choice.
