WORLD MONITOR 2018
Starting January 21, 2017 after Trump's inauguration; January 23, signs Executive Order to exit TPP; June 22, 2018 Trump threatens 20% tariffs on car imports from the EU; to July 2018 when Chinese tariffs on $34 bn worth of US imports come into effect.
The World has now come to realise that the US President Donald Trump is indeed executing what he promised to do during his presidential campaign - America First! As a result, the US under the Trump administration is retreating itself from the global stage and is abdicating from its global leadership responsibilities, that it has created, espoused and advocated since World War II.
Since the Brexit referendum in June 2016, twenty two months have passed. Despite the political infighting within the British government about how it should exit out of the European Union (EU), there seems to be some progress achieved. However, there are still lots of loose ends to be tied up. Most importantly, the future trade agreement between the United Kingdom (UK) and the EU still remains elusive, if not, a complete fantasy.
Since his presidential campaign in 2016, President Donald Trump had been targeting at China and its massive trade surplus with the United States (US). Both the US Department of Commerce and the US Trade Representative were instructed to conduct their respective investigations on the various US trade partners, particularly China.
After a decade of economic stimulus from the various central banks, the global economy is finally showing signs of a broad based economic recovery, according to the International Monetary Fund last year. As a result, the prices of most commodities have been slowly and steadily increasing. With increasing demand from higher economic activities, prices of base metals, oil and gas, and other commodities have improved and recovered from their previous low prices.
Since the American President Donald Trump came in power last year, there has been a war of words between him and the North Korean leader Kim Jong-Un. Many words have been said and many statements made between both parties. Last August, Trump has even threatened to unleash 'fire and fury' over North Korea.
The United States (US) was a founding member of the General Agreement on Tariffs and Trade (GATT) that was enacted on January 1st 1948. Since then, the US has been advocating trade liberalisation.
It took about a decade for the world economy to recover from the Global Financial Crisis (GFC) in 2008. And according to both the World Bank and International Monetary Fund, the global economic growth in 2017 was more broad-based with both developed and developing economies growing.
Increasingly, corporate leaders are facing a more and more volatile environment. The geopolitical, technological and business environments are changing so fast that strategies implemented today may be irrelevant tomorrow.