America Looks Like a Troubled Emerging-Market Economy
Under US President Donald Trump’s erratic rule, the United States is now exhibiting all the symptoms, from high import tariffs and fiscal deficits, to oligarchy and flagrant corruption. Worse, the fallout cannot be confined to the US, and no multilateral bailout or structural adjustment plan can mitigate the damage.
https://prosyn.org/sFAJl1W
WASHINGTON, DC – Having worked as an emerging-market economist for many years, first at the International Monetary Fund and then on Wall Street, I recognize an emerging-market economy in trouble when I see one. It pains me to say it, but the United States is showing many of the warning signs. Worse, by dint of its size, America’s actions have a much greater impact on the world economy than those of any run-of-the-mill emerging market.