World Economic Forum Three experts on how to understand the USA
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Feb 20, 2025 David Rubenstein, co-chairman of The Carlyle Group, joins a discussion on the evolving landscape of American democracy. The experts delve into how Trump's second term might reshape the political scene, highlighting the growing polarization in the U.S. They explore the American Dream's transformation amid an insecure job market. The conversation also tackles the intricate relationship between immigration and populism, while drawing historical reflections on leadership from Abraham Lincoln's era. Insightful perspectives on America's identity and future emerge.
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Fragility and Resilience of the US
- The US shows a unique blend of fragility, seen in political divisions and declining trust in institutions.
- Despite this, it has a remarkable history of resilience, bouncing back from crises like 9/11 and the financial crisis.
Shifting Job Landscape and Middle-Class Anxiety
- Post-WWII, middle-class stability was built on manufacturing and clerical jobs, offering lifelong employment and pensions.
- Today, these jobs are declining, creating anxiety and insecurity in a more dynamic but less predictable job market.
Immigration and Political Discourse
- Immigration levels in the US are high, similar to the 1910s-20s, causing political debate and social tensions.
- Elites often dismiss public concerns about immigration as xenophobia, failing to address valid anxieties about its impact.