We are on the verge of a new world economic order, albeit not controlled by those who have run things in the recent past
After the result comes the inevitable inquest and search for understanding as to what a Donald Trump presidency will mean for the US and indeed the entire world.
It is, of course, too early to say but we do appear to have a gathering momentum in terms of the way the world economy works. If Trump is true to his word, his United States will be a much more isolationist country unwilling to intervene to the same extent in both conflict and trade.
We can perhaps expect a retreat to its own borders, which, ironically, could help the UK in its post-Brexit guise. One suspects Trump will be keen to reward his ‘friends’ and, if he does put great stock in the UK/US ‘special relationship’, we may find ourselves in a far stronger position trade-wise than otherwise might have been.
The other point to reflect on is just what it is that Trump wants to do. Detail was sorely lacking during the hustings (apart from the obligatory wall building) but now we will see exactly what his policy is going to be.
When this is revealed, we will all take great interest in the reaction from the Senate and the House of Representatives. We all know the difficulty Barack Obama had and, even with the institutions now seemingly in Trump’s favour, we should not be surprised to see plenty of objections raised.
Overall, this seems a real move away from globalisation, with the ‘take back control’ message having won the day. Other countries are likely to follow suit. We appear to be on the verge of a new world economic order, albeit one not controlled by those who have run things in the most recent past.
Richard Adams is managing director of Stonebridge Group