Policy Article

Trump Economics Lesson

The International Economy, 32 (3), 46–49

The U.S. president’s objective to “make America great again” contradicts the simple fact that the United States is by a wide margin the richest economic power in the world. Its per capita income exceeds Germany’s by almost 20 percent, Korea’s by almost 50 percent, and China’s by a striking 250 percent. It is by almost 50 percent higher than the European Union’s average. If those countries treat the United States unfairly, very little of that is visible in the data.

Here is the trillion dollar question: How is it possible that the current U.S. president can picture the richest country in the world as a piggy bank being robbed by its trade partners, and millions of people believe that narrative?

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