All the president’s money men: the Trumponomics team
Jan 3, 2025
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Simon Rabinovich, U.S. economics editor at The Economist, dissects the complex dynamics within Donald Trump's economic team, exploring the interplay between traditional conservatives and the America First faction. Anne Rowe captivates listeners with the curious case of Saturn's disappearing rings and their deep historical significance. Meanwhile, Rachel Dobbs highlights alarming trends in tourism's carbon emissions, stressing the urgent need for sustainable practices in an era of rising environmental impact.
Donald Trump's administration comprises three distinct groups of economic advisors, revealing potential collaboration and competition among them.
The tourism industry's carbon footprint is rising rapidly, necessitating improved government action to address its environmental impact effectively.
Deep dives
Importance of Site Selection in Business Expansion
Site selection is a critical factor for businesses aiming to expand operations in the U.S. North Carolina stands out as a prime location due to its well-educated workforce and robust infrastructure that can efficiently connect to both domestic and global markets. Additionally, the state boasts one of the lowest corporate tax rates in the country, making it an attractive option for new enterprises. The combination of these elements positions North Carolina as a strategic choice for companies seeking growth opportunities.
Diverse Economic Policy Teams in Trump's Administration
Donald Trump's upcoming administration is marked by a diverse team of economic officials, categorized into three main groups: conservative mainstreamers, America Firsters, and tech tycoons. The conservative mainstreamers are expected to temper some of the more extreme economic policies and include experienced individuals like Scott Besant and Howard Lutnick. The America Firsters, led by figures like Stephen Miller, focus on maintaining U.S. dominance and support assertive trade policies including tariffs. Meanwhile, tech tycoons like Elon Musk and David Sachs aim to innovate government operations, striving for a more tech-friendly administrative environment.
Environmental Impact of Tourism on Climate Change
Tourism has a significant and growing carbon footprint, with emissions increasing at a rate double that of the overall global economy. A recent study revealed that global tourism emissions reached 5.2 gigatons of CO2 equivalent by 2019, accounting for nearly 9% of the world's total emissions. Despite efforts to implement sustainability measures in the industry, many initiatives have failed to reduce tourism-related emissions effectively, often due to inadequate regulations and the complex nature of tourist behavior. The study emphasizes the need for governments to play a proactive role in understanding and mitigating tourism's environmental impact through better data collection and policy implementation.
There are three types of economics-minded people in Donald Trump’s incoming administration. We ask whether they are likely to collaborate or to compete. Tourism clearly adds to emissions, but new numbers show just how fast that fraction is rising (9:58). And the next in our The World Ahead series reveals a familiar planetary phenomenon that will disappear in 2025 (17:07).