Trump executive order Saul Loeb

National Debt and Global Order

Having overseen a large debt-financed real-estate business, Donald Trump's intuition is that debt renegotiation can be used to win back for America what “other countries” have supposedly taken from it. He could even pursue a nationalistic version of what is typically a leftist demand: a debt jubilee or write-off.

PRINCETON – As we entered the new year, all indications pointed to a remaking of the global order. Donald Trump was inaugurated as President of the United States, Chinese President Xi Jinping delivered a defense of globalization at Davos, and far-right leaders such as Marine Le Pen and Geert Wilders held an “alternative European summit” in the German city of Koblenz.

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