“Trump’s victory would affect Germany’s economy”
Finance expert Marcel Fratzscher assures that a second term of the current US president would imply "losses for one of the largest economies in Europe"
One of Germany’s leading economists was concerned about the risks that a new victory for Donald Trump in the US presidential election would pose for Europe’s largest economy.
“I am concerned that Germany has more to lose economically under Trump than the US”, said Marcel Fratzscher.
“If Trump wins the election, democracy in the United States will suffer damage, as well as multilateralism. From an economic point of view, however, I worry less in the medium term,” he added, explaining that the US economy will continue to be very dynamic.
According to Fratzscher, Europe has less capacity to act. “We do not have a common voice and there is no driving force that can be imposed with respect to the United States and China,” said the president of DIW, one of the five major economic institutes in the country.
In the event that the Democratic candidate Joe Biden prevails in the elections, Fratzscher hopes that a change will be generated in the internal politics of the United States. “Biden will try to reduce the rift in society.”
He added that many things can also be modified at the international level. “On a global level, Biden could fix a few things, for example the US position on the Paris climate change agreement.”
At the same time, Fratzscher mitigated expectations that the United States could strengthen its presence under Biden in international cooperation and multilateral agreements.
“We should not expect the United States under Biden to assume the role of promoter of multilateralism. Biden also has in fact protectionist tendencies. We will not see the world of the 80s and 90s under the Biden government either,” he said.
K. Tovar
Source: Clarin
