Economic experts are sweating a lot right now. According to their assessment, Donald Trump’s second US presidency is likely to be particularly stressful for Western industrialized countries.
“The concern that Donald Trump is damaging the economy is particularly widespread in Western industrialized countries,” said Ifo researcher Niklas Potrafke about the results of the quarterly survey that the Ifo Institute and the Institute for Swiss Economic Policy published on Monday among almost 1,400 experts from the country. 125 countries countries.
“In Africa, Latin America and Asia, however, experts hardly expect any negative effects on the economic growth of their countries.”
North America, Europe and Oceania are pessimistic
The regions with the most optimism about economic growth – such as Central and South Asia and North, East and Southern Africa – also have more positive expectations for future US trade policy under Trump. However, in North America, Europe and Oceania, almost all experts (about 80 percent) think that international trade will become more difficult if the Republican comes to power.
Opinions are also very unevenly divided when it comes to the question of what contribution Trump can make to resolving current conflicts. Respondents in the US and Europe also fear negative effects here. Experts from Africa, Eastern Europe, Central and South Asia, on the other hand, even express positive expectations. “For example, in Ukraine the majority hopes for Trump’s influence, while in Germany the majority views Trump’s influence as negative,” says the Ifo Institute.
Bad effect on climate policy expected
However, there is a lot of agreement globally when it comes to the impact of Trump’s presidency on climate policy: 78 percent of respondents expect a negative effect here.
Trump’s second term begins on Monday with his swearing-in. He has repeatedly threatened high tariffs on imports, which could hit European export champion Germany, for example.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
