Tariffs, free trade or socialism: is there a way out of the crisis?
The world capitalist system is beset on all sides by crisis. Debt is sky-high, economies are stagnating and society is more polarised than ever. To add to this mess, the tapestry of world relations – the ‘rules-based order’ – is unravelling. Tit-for-tat tariffs that seek to export the crisis threaten to turn into trade wars that will tear up world trade.The liberals see Trump as the wrecking ball causing the crisis. But is this true? By slashing the debt, raising tariffs and ditching the Ukraine war, he is actually trying to stabilise American capitalism, even if that comes at the expense of…
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