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Trump views 50 years out of date, may trigger disruptive trade war: Paul Krugman

According to him, immediate issue is going to be confrontation not with China, but with Europe as the "steel tariffs" will hit Europe

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Trump is not taking his responsibilities seriously: Paul Krugman. Wikimedia Commons
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  • Paul Krugman criticises U.S. President Donald Trump
  • Paul Krugman is a Nobel Prize winner
  • Paul says Trump’ actions can cause a war

Criticising the US President Donald Trump for his protectionists policies, Nobel Laureate Paul Krugman on Saturday accused President Trump of not taking his jobs seriously. Following the protectisists measures taken by the US President, there could be “risks of disruptive trade war”, he said.

President Donald Trump has pledged to avoid any new foreign business deals during his term in office.
President Donald Trump is heavily criticised. Wikimedia Commons

“He does not take the job seriously. He doesn’t say to himself that I am the most important official in the world; I have better do my homework for understanding the issue. ..He just goes that these are my gut feeling and hires people who make him feel good…that is a frightening prospect,” Krugman said responding to a query on his perception on Trump. On the economic issues President Trump’s gut feelings are “protectionist” and his views of America were “50 years out of date”.

“He wants America a heavy industrial country in the way it was when he was a young man. That is not just going to happen but he attempts to make it happen, which is extremely disruptive to America and to the global as a whole,” Nobel Laureate said. Krugman said he was until recently optimistic that Trump’s protectionist policies would not see the light of the day.

“Until about two weeks ago, I was quite optimistic that it would not happen. The reason was not because the President would get good economic advice but because the US businesses are invested in a globalised economy. All the investments the businesses have made is based upon the assumptions that the open trading system would continue. There is an enormous amount of fiscal capital and a large number of jobs are dependent on these value chains,” he said at the News18 Rising India Summit here.

Also Read: Trump Not Backing Down on Steel, Aluminum Tariffs

Krugman further said: “I had assumed the influence of these business communities would be sufficient… that it would not happen. I am less optimistic now…we have seen reasonably sensible Economic Council Head was fired, completely irrational tariff (was) imposed on steel and aluminium.”

The President also called for more mental institutions and hospitals in addition to the idea of arming teachers.
Krugman says these actions of President can cause a trade war. Wikimedia Commons

According to him, immediate issue is going to be confrontation not with China, but with Europe as the “steel tariffs” will hit Europe. He said there are possible risks of “disruptive global trade war”.

Speaking on Chinese economy he said, “China is a financial crisis waiting to happen. China is a widely unbalanced economy…the country is sustaining itself with a credit bubble that is waiting to burst…There is a significant risk of Chinese bubble burst.”

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U.S.A: Myanmar’s Military Campaign Against Rohingya Muslims a ‘Mass Genocide’

Lawyers for the reporters said their clients were set up and have appealed their sentences and convictions.

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Rohingya Muslims, who crossed over from Myanmar into Bangladesh, wade past a waterlogged path leading to the Jamtoli refugee camp in Ukhiya, Bangladesh. VOA

The U.S. House of Representatives approved a resolution by a vote of 394-1 Thursday, declaring Myanmar’s military campaign against the country’s Rohingya Muslim minority a genocide.

A United Nations report released in August said the military carried out mass killings and gang rapes with “genocidal intent” and also definitively called for Myanmar officials to face genocide charges for the first time.

Rohingya Growing

Myanmar’s military has denied previous accusations it had committed genocide, maintaining its actions were part of an anti-terrorism campaign.

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Rohingya refugees carry a hume pipe in Balukhali refugee camp near Cox’s Bazar, in Bangladesh. VOA

The atrocities have prompted the U.N. and a number of political and human rights leaders to question the southeast Asian country’s progress toward democracy.

The Burma Task Force, a coalition of U.S. and Canadian Muslim organizations, applauded the genocide designation.

“The House of Representatives has now officially adopted the position that the ongoing policies of mass violence and displacement against the Rohingya by the Myanmar government constitute genocide, bringing the U.S. closer to the emerging international consensus on the issue.

The U.S. State Department usually makes such official designations but has not used the term genocide to describe the military’s atrocities against the Rohingya.

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Rohingya refugee children shout slogans during a protest against the repatriation process at Unchiprang refugee camp near Cox’s Bazar, in Bangladesh. VOA

The House resolution also called on the Myanmar government to release Reuters journalists Wa Lone and Kyaw Soe Oo, who were jailed one year ago.

Also Read: Twitter CEO Jack Dorsey Under Fire For Myanmar Tweets

They were sentenced in September to seven years in prison for violating the country’s colonial-era Secrets Act. Lawyers for the reporters said their clients were set up and have appealed their sentences and convictions.

The Myanmar embassy in Washington did not immediately comment on the House vote. (VOA)