Following a four-year hiatus, Donald Trump made a spectacular return to win reelection as the 47th President of the United States of America. The global order will most likely be impacted by Mr. Trump's victory, which will also have a big impact on trade and policy for the majority of countries.
S Jaishankar made reference to "something that happened yesterday"—the outcome of the US election—during a press briefing following his meeting with prominent CEOs and business executives in Australia. India, according to Mr. Jaishankar, "perceives this as an opportunity".After four years, former US President Donald Trump, a Republican, made a spectacular return to win reelection as the 47th President of the United States of America. The global order will most likely be impacted by Mr. Trump's victory, which will also have a big impact on trade and policy for the majority of countries.
Globalization will be significantly impacted by Mr. Trump's victory. Mr. Jaishankar expressed his opinions on this, stating that India perceives it from four perspectives: First of all, "A global reorganization of supply chains was already underway." It is highly probable that this will accelerate following the outcome of the US election.
"To be completely honest with you, some of this will be a little disruptive," he continued. "But we in India see it as an opportunity because we kind of missed the manufacturing bus in the 1990s and early 2000s, and we do think that this reordering of supply chain gives us a sort of second bite of the apple." And perhaps we are performing better than we were previously, beginning with Apple, this time around."
Second, there will be more geopolitical hedging in a sense. that many more of us will be looking for additional ties (across the world) to keep life steady, which is what will unavoidably happen as a result of policies that we can, at least some aspects of it, safely foresee," he continued.
The foreign minister continued by emphasizing the importance of the digital era in which we all live, stating that digital payment platforms will eventually gain significant value.
"The third aspect pertains to the digital digital side, and the digital side now pretty much covers everything." Jaishankar stated that "What has been happening and will continue to intensify is about trust, and what accompanies the digital aspect of a product or service or technology will come under greater scrutiny."
He added that "Digital payment platforms, for example, would become, in a sense, much more valuable." stating that "which platform to use and share with whom, becomes an important question."
Mobility, he continued, is the fourth factor. Speaking about it, Mr. Jaishankar stated: "I believe that the world's demographic inequality is starting to catch up with us, since there will be economies with high demand. In such nations, the talents may not be plentiful."
Perhaps in the coming years, we will be transitioning to a much more integrated global workplace, where many nations—including the United States under Donald Trump—will differentiate in immigration and mobility for them. In other places, however, things might be different. "Those nations will need to promote economically justified mobility," the foreign minister clarified.
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