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Adam Tooze is a British economic historian. He teaches at Columbia University in New York. Previously, he was at Yale and Cambridge. In 2018 his book appears: “Sudden stop-how great financial crisis changed world.”
Online Time: HerrTooze, are we on verge of a global trade war?
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Adam Tooze: It is a kind of cold trade war, not only since DonaldTrump was US president, but for several years now. The world Musseine answer to question of how to become major global Ungleichgewichteaustariert – for example, between EU and US. Außerdemmuss will decide how to integrate Colossus of China with its never-before-gewesenenWirtschaftsdynamik into world economic system. Spannungenzwischen The state capitalism of China and western, DemokratischenKapitalismus are only natural.
Online Time: Istin of such a difficult situation protectionism right way?
Tooze: No, of course not. Donald Trump is a ruthless actor in an already charged system. A Derartabsurde policy, as it comes from White House at moment, has seldom experienced world. In US Congress re has been a similar situation in earlier times, and Ernie’s government has adopted such a policy.
Online Time: With GaryCohn and Rex Tillerson, just two people were assigned to EINEGEMÄßIGTE politics within US government. Who are ideologues of background to push Trump’s policy forward?
Tooze: There are whole groups of different actors – for example brors David UndCharles Koch with ir energy company. They wanted to get out of deminternationalen climate deal and y got it. However, DieKoch brors did not expect protectionism, which Trump is now pursuing. This policy includes, among or things, little-known trade Commissioner RobertLighthizer, a smart lawyer who, in 1980s, led brutal trade talks with Japanese for DieReagan government. NebenLighthizer you have to reckon with Peter Navarro. For him, China is something like placed enemy. Both see World trade less as a system with UnterschiedlichenRegeln, but rar as a battlefield in which economic power is measured.
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Online Time: The rhetoric of unfair trade should also Chinasgenährt fear of a supremacy?
Tooze: Yes. But development of China is also something historically completely novel in ihrerDimension and dynamism. The global steel capacity alone has doubled over past 15 years. The Aluminiumproduktionhat almost tripled within a decade. This of course has SeineAuswirkungen on worldwide division of labor, on jobs in USA and rest of world. But to isolate mselves and to enter into a cold War does not solve problem.
Online Time: ‘ll with nomination of Lawrence Kudlow as a new obersterWirtschaftsberater change something? He is considered a proponent of free trade.
Tooze: One might almost think Trump wants to establish a balance between globalists UndNationalisten among his advisers. But above all, ErSchmeichler wants to have around himself. Kudlow is a light weight.
Online Time: What motivates Trump himself – beyond Einflüsterungenseiner advisors?
Tooze: He is esdarum to perform a historical mission. His narrative is simple: for den1970er years, American economy has been Globalisierungerdrückt. And previous governments in Washington have not dagegengewehrt. He simply subsets stupidity to his predecessors. They hättenbeispielsweise free trade agreements miserably. That is why we need a government that is finally acting.
