Bernie’s Welfare Paradise Risks Thumping by Trump
Shipping containers stand aboard the Maersk Mc-Kinney Moller Triple-E Class container ship, operated by A.P. Moeller-Maersk A/S, as it is guided to the dockside by tugboats early morning at the port of Aarhus, Denmark, on Monday, July 28, 2014.
Photographer: Freya Ingrid Morales/BloombergThe Nordic welfare utopias of former presidential candidate Bernie Sanders are feeling the pinch of slowing global commerce. And with Donald Trump now threatening to raise trade barriers, the economic model that feeds their welfare largess will likely come under further duress.
Denmark's A.P. Moller-Maersk, the world's largest shipping line, has already reported a dramatic drop in profit amid plummeting shipping rates while wind turbine maker Vestas Wind Systems has seen its shares plunge. Sweden saw the value of its krona sink to its weakest level in more than six years on the news that Trump had won the race to the White House.