Due in part to an earlier lack of imagination on my part – now amended - I have significantly rethought the likely implications of the Trump administration’s impact on the economies and polities of the world. As a result, I am more optimistic about the future than I used to be. There are several reasons.

The fallacy that “The old global order is dead”

First, and of greatest importance, was an article by Martin Wolf (the eminent FT economist) entitled “The Old Global Economic Order is Dead”, published in the FT on 27 May 2025. This was a significant statement from a brilliant observer of today’s scen...