Trumponomics Live from Davos: The Real Conversations Around Trump's Return
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Jan 22, 2025 In a lively discussion, John Micklethwait, Bloomberg News Editor in Chief, Jenny Leonard, White House reporter, and Brad Stone, Editor of Bloomberg Businessweek, dive into the shifting dynamics at Davos in light of Trump's potential return. They explore how global elites are reconsidering their commitments to social initiatives and the implications of Trump's transactional foreign policy. The group examines the interplay between tech, politics, and corporate strategies, highlighting the financial ramifications for global markets in this transformed landscape.
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Shifting Allegiances
- CEOs and business leaders at Davos are now aligning with President Trump's views.
- This shift is reminiscent of how French newspapers changed their tune when Napoleon returned from Elba, as Lloyd Blankfein noted.
Tech's Turnaround
- Tech leaders, once resistant to Trump, are now embracing his return, possibly due to perceived persecution during the Biden years.
- They find common ground with Trump on issues like crypto and antitrust, seeing opportunities for business advancement.
Market Reactions and Global Impacts
- Financial markets have reacted to Trump's return, with oil, growth stocks, and the dollar rising.
- Countries with underlying weaknesses are feeling the pressure from Trump's agenda, as seen in the UK's rising bond yields.
