Trump will destroy world trade, but democracies can defend themselves – and each other | Anders Fogh Rasmussen
We need a trade block, a D7, that would mirror Nato. An economic attack on one would be an attack on allAnders Fogh Rasmussen is a former prime minister of Denmark and former secretary general of Nato The postwar global economic order, with the United States at its centre, has created more prosperity than any other period in human history. Yet as Donald Trump takes a sledgehammer to that economic order, America’s democratic allies face a choice. We can accept the new cost of doing business with the US. We can follow the US down a path of mutually assured economic destruction with an ever-escalating trade war. Or we can find new avenues to keep free trade alive.My proposition? I believe we need a new platform for economic cooperation between the world’s seven leading democracies. Call it the “Democratic 7”, or “D7”. The EU, the UK, Canada, Australia, New Zealand, Japan, and South Korea represent roughly 25% of global GDP and account for about 35% of global trade volume. Together, these democracies can help to shield each other from the threats of economic nationalism and coercion – while also championing democracy, the rule of law, and market economics.Anders Fogh Rasmussen was Nato secretary general from 2009-2014 and prime minister of Denmark from 2001-2009 Continue reading...
We need a trade block, a D7, that would mirror Nato. An economic attack on one would be an attack on all
- Anders Fogh Rasmussen is a former prime minister of Denmark and former secretary general of Nato
The postwar global economic order, with the United States at its centre, has created more prosperity than any other period in human history. Yet as Donald Trump takes a sledgehammer to that economic order, America’s democratic allies face a choice. We can accept the new cost of doing business with the US. We can follow the US down a path of mutually assured economic destruction with an ever-escalating trade war. Or we can find new avenues to keep free trade alive.
My proposition? I believe we need a new platform for economic cooperation between the world’s seven leading democracies. Call it the “Democratic 7”, or “D7”. The EU, the UK, Canada, Australia, New Zealand, Japan, and South Korea represent roughly 25% of global GDP and account for about 35% of global trade volume. Together, these democracies can help to shield each other from the threats of economic nationalism and coercion – while also championing democracy, the rule of law, and market economics.
Anders Fogh Rasmussen was Nato secretary general from 2009-2014 and prime minister of Denmark from 2001-2009 Continue reading...
What's Your Reaction?
