After The Trump Triumph
By Dr. Dan Steinbock
The Trump victory was a "stunning surprise" to Washington and mainstream media. But it was very much in line with voter distrust in both Clintons and Washington’s ruling class. Politically, Americans are fed up. In cooperation with the Democratic National Committee, the Clinton campaign had far too cozy ties with Wall Street, neoconservatives and Pentagon contractors, as well as mainstream media organizations; from CNN and New York Times to Huffington Post and Google. In turn, House Republicans demand a special prosecutor to investigate the Clinton Foundation, which former New York City mayor and Trump supporter Rudy Giuliani has called a “racketeering enterprise” that should be prosecuted as such. Indeed, Republicans have promised to investigate the role of the State Department, the Department of Justice and the FBI.In turn, Speaker of the House Paul Ryan has promised “aggressive oversight work” of a “quid pro quo” deal between the FBI and the State Department over emails, while chair of the House Oversight Committee Jason Chaffetz has been pushing for “new hearings.” It will be interesting to see whether Republicans will walk the talk - unless, of course, the idea of “post-election healing” is understood as a license for collective amnesia.The demise of US-EU cooperation - and NATO?The Trump triumph is a belated acknowledgment of America’s malaise. However, as he vows immediate action on executive orders, it is not entirely clear, whether the Trump medication will alleviate or worsen America’s economic angst. His campaign promises have potential to add to rather than reduce America’s $20 trillion sovereign debt burden.What is certain is that, economically, most Americans' wages have stagnated since the 1980s. Politically, the Congress enjoys credibility only among 10-20% of Americans. In security matters, most Americans do not believe that US should play the role of "world police" internationally.
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Dr. Dan Steinbock is research director of Int'l Business at India, China & America Institute (ICA), fellow at Shanghai Institutes for Int'l Studies . The expert on G-7, BRICs economies, and U.S.-Chinese ties taught at business schools of Columbia University and NYU, and at Helsinki School of Economics. He has appeared world's major TVs and written columns for leading newspapers.