Trumping the International Monetary System
Given US President-elect Donald Trump's promises of tax cuts and infrastructure investment, markets are anticipating faster growth in the US. But, by increasing the dollar’s value against most currencies and triggering capital flight from emerging economies, the US could put global financial stability at risk.
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HONG KONG – It is difficult to know exactly what US President-elect Donald Trump will do when he takes office in January. But he is all but guaranteed to pursue tax cuts and increased infrastructure spending. As a result, financial markets are anticipating faster growth in the United States – a perception that is boosting the dollar’s exchange rate against most currencies, including the renminbi, and triggering capital flight from emerging economies.