I had coffee with a foreign friend a week ago. The subject of Donald Trump inevitably came up and my friend said that he was torn between describing Trump as a genius or as an idiot, but was inclined to lean towards genius. He explained that Trump was willy-nilly establishing a new world order that will succeed the institutionally exhausted post-World War 2 financial and political arrangements that more-or-less established US hegemony over the “free world.” The Bretton Woods agreement and the...
