Martín Guzmán describes the current situation as the culmination of several crises occurring simultaneously. Even before Donald Trump, there was an imbalance with financial markets and multinational corporations having too much power, while there was not enough political governance and too few progressive responses to the basic assumptions underlying the modern economy. Trump brought an even more aggressive use of economic power to the mix, whilst in the West, a progressive agenda for a new multilateralism has largely failed to materialise. -fw

Katrin Rulle

Berna León, Managing Director of Avanza, opens the discussion on the return of power politics to the global economy. Trade is now viewed as much more as a security issue, with critical raw materials being used as leverage, he says. The former principles of free trade based on trust have been weakened. Katherine Tai, former US Trade Representative, recalls a time of growth and greater prosperity but notes that today, the world is significantly less peaceful and secure. She points to the current US administration whose election campaign was built on power politics, as just one example of this.

Katrin Rulle