Understanding Trade Imbalances and the Power of the U.S. Dollar

How do you reconcile Trump's passion for American Greatness with his disengagement from international systems which America set up? What are the consequences so far of Trump's tariff flip-flops? Can Ukraine be resolved by the Great Powers alone? Do volatile bond markets predict the end of the U.S. dollar? Where does this all leave America in relation to the rest of the world? And what's the deal with Qatar's gift of a blingy Air Force One?

David Smith is an expert in American and international politics with the U.S. Studies Centre in Sydney. He's an Aussie who got his PhD in political science from the University of Michigan.

Here, he helps us understand the real theory underpinning Trump's foreign policy, and how it's likely to shake out.

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