Big Take Asia Another Trump Term Is Coming. Is Asia Ready?
Nov 12, 2024
Daniel Ten Kate, Bloomberg’s executive editor for Asia economy and government, shares his expertise on the potential impact of a second Trump term on the Asian landscape. He discusses rising tariffs and geopolitical tensions, particularly concerning China and Taiwan. The conversation also highlights the shifting dynamics in U.S.-India relations and the critical role of Southeast Asian nations in trade. With uncertainties looming, Ten Kate emphasizes the challenges that countries face in a fractured global environment.
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China's Preference for Stability
- China prefers stability, which they found lacking during Trump's first term.
- Trump's unpredictability contrasts with Biden's more stable, though not necessarily preferred, policies.
Trump's View on Xi
- Trump often praises authoritarian leaders, viewing Xi Jinping as someone who can control a vast population.
- While Trump calls Xi a "friend", he's willing to criticize him when it suits his interests, as seen with COVID-19.
Impact of Tariffs on China
- New tariffs could potentially reduce China's annual growth by several percentage points.
- However, China has diversified its exports and taken steps to mitigate potential damage.
