This is a most dangerous time for the world and, in particular, for those countries which need a few more decades of stability and global cooperation to pull themselves out of poverty.
The US Has Junked the 'Rules-Based Order'. Here's What it Means for the World - The Wire
Even with the recent downward revision in their jobs numbers, the US is running at what is referred to as full employment, meaning that joblessness is around four per cent, which is optimal. This means that from the standpoint of income and jobs, the US is in a very good place, particularly when compared to nations like India, where poverty and joblessness, particularly in the absence of regular, salaried employment, are a serious problem.
And yet the US is unhappy with the world, which it says is “ripping it off”, in the words of US President Donald Trump. He has reversed this theft, as he sees it, by making it more difficult for countries to export their products into the US. America is India’s largest export market, and a 25% tariff on our goods will weaken demand, hurting our exporters. There is no getting around that fact. If the tariffs remain, our interests will be harmed, no matter who ultimately pays the tariff.
in the matter of the tariffs, the US is telling the world that it is leaving the rules-based order and prefers to use its strength to extract, and even extort, what it can from the world.
by Aakar Patel
05/08/2025