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Time to broaden scope for economy’s sake

There is a maxim that says “the tongue is a key to the heart”, which means what you say often reveals what is in your inner thoughts. Certainly, this has become most evident in the latest executive orders signed by President Trump.

He is delivering on his campaign promises that were once considered as mere rhetoric: the great border wall of Mexico, built by America but to be paid for by Mexico. Now, the ban on persons from seven predominantly Muslim countries, along with his comments — of prioritising Christians from those same countries, his praise of Britain exiting the European Union, glorifying national independence over unions — are all markers of a new world, one without America as its beacon of refuge for those seeking liberty.

With all three superpowers, they being China, Russia and America, joining a league of nations committed to their own self-interest, the rest of the world has to scamper to align themselves with whichever of the three that best suits their own national interest.

The United States has pulled out of the Pacific alliance with 11 nations and is intent on dissolving its relationship with the North American Free Trade Association, so it is no wonder why Theresa May was most anxious to be on the list of those to first meet the new president.

The implications of weakening the European Union through the encouraged dissolution of its members is a juicy picture for Russian President Vladimir Putin, particularly with the possible support of its greatest and only true rival, the US. It would seem that President Putin will not have to work so hard if he can successfully bypass Congress and be extended the autocratic hand of the President.

With the retaliatory response of Iran blocking American visitors setting the lead for the other banned nations, it forebodes the reversal of globalisation, which has been hit by successive sledgehammers since the Brexit vote. While all of these issues may be temporary, they mark the beginning of a period in the world that will be increasingly difficult to navigate.

Bermuda is outside of the zone of direct conflict in the issues pertaining to Isis or the US borders. However, we must be vigilant and perhaps it is time that Bermuda, in its own national interest, must broaden its scope on where its future economic alliances will depend.

In the past, China, Russia or even the Middle East and Far East countries were off limits and seriously discouraged. While the issue of national security will always be guarded by Britain and Nato, we will have to open up because our economic needs may require our relationships to be more global.

Springing into action: Trump is delivering on his campaign promises that were once considered as mere rhetoric

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Published February 03, 2017 at 8:00 am (Updated February 03, 2017 at 11:56 pm)

Time to broaden scope for economy’s sake

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