Thoughtful Money with Adam Taggart What Does An "America First" World Look Like? | Michael Every
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Nov 17, 2024 
Michael Every, Global Strategist at Rabobank, discusses the rise of nationalism and its implications for the global economy following Donald Trump's return to power. He explores how this 'America First' agenda may reshape trade dynamics, highlighting the strategic use of tariffs and the interplay between major economies. John Lodra and Mike Preston provide insights into market movements and the necessity of hedging strategies amid shifting sentiments. The conversation reveals both opportunities for investors and the risks that come with protectionist policies.
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Shifting World Order
- The global system, built post-WWII and post-Cold War, has clear winners and losers.
- America, realizing this system isn't serving its interests, is shifting towards an 'America First' approach.
Trumpism and Mercantilism
- Trumpism, equating to mercantilism and US nationalism, prioritizes domestic prosperity and security.
- This approach involves using economic policy as an instrument of power, similar to historical precedents.
Statecraft vs. Policy
- Statecraft, unlike economic policy, focuses on using the economy to achieve national interests, considering military and political power.
- This involves prioritizing strategic goals, even if it means making sacrifices in certain economic sectors.