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America’s Isolationist Default

Summary:
There is much truth to the view that President Donald Trump's "America First" policies are an abdication of global leadership, sounding the death knell of the post-World War II multilateral order that the United States shaped and sustained. At the same time, this troubling turn represents a reversion to long-standing US values. BERKELEY – Donald Trump’s “America First” policies are widely regarded as an abdication of global leadership, sounding the death knell of the post-World War II multilateral order that the United States shaped and sustained. There is much truth to this view. At the same time, this troubling turn represents a reversion to long-standing US values. Acknowledging that the second half of the twentieth century

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There is much truth to the view that President Donald Trump's "America First" policies are an abdication of global leadership, sounding the death knell of the post-World War II multilateral order that the United States shaped and sustained. At the same time, this troubling turn represents a reversion to long-standing US values.

BERKELEY – Donald Trump’s “America First” policies are widely regarded as an abdication of global leadership, sounding the death knell of the post-World War II multilateral order that the United States shaped and sustained. There is much truth to this view. At the same time, this troubling turn represents a reversion to long-standing US values. Acknowledging that the second half of the twentieth century was an anomaly, rather than the norm, raises troubling questions about the nature of US leadership and about the fate of multilateralism after Trump.

As a resource-rich continental economy separated from Europe and Asia by vast Atlantic and Pacific Oceans, the US has always...

Barry Eichengreen
Barry Eichengreen is Professor of Economics at the University of California, Berkeley; Pitt Professor of American History and Institutions at the University of Cambridge; and a former senior policy adviser at the International Monetary Fund.

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