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00:00The morning must read on Mr. Trump. Robert J Samuelson does terrific political economics and always puts in history. Mr. Samuelson says history matters the often overlooked truth is that the U.S. economy despite much rhetoric to the contrary is less globalized and virtually all other advanced countries trade remains foreign policy who we trade with and how our expressions of two we trade with and how our expressions of national purpose and power Luigi using with Francine Rome professors galas. I look at the new globalization of Donald Trump. How would you define that that's a very good question because I'm not so sure we have a new globalization of the world Trump. I thinking that during the campaign he was vey anti globalization. The people he thinks so fine is cabinet don't seem to be a match against globalization. So I think that there will be more rhetoric than substance. The only Fiat is regarding sort of a long term foreign policy. Donald Trump tends to be very much dialogue centered and I fear that he might be sacrificing long term benefits for the United States and that in exchange for some populous short term deal. All right. Louis g the heritage of your University of Chicago partly as Jacob Viner in an absolutely classic 1940s essay on mercantile ism you mentioned Mr. Trump makes deals. Okay I get that. Is this just a new form of mercantilism for America . Actually if we start looking at the CAC deal I fear it is. I think that I regard the kind of deal as terrible. The intention was very good to save jobs in America. But the AD carry on the way it has been done. In fact that does not promote new policy views of everybody but gives targeted incentives and targeted fear. Because I think a fear of retaliation is it basically the dawn of a chronic capital his world. You know I look Louis G at the economics of Donald Trump and it tells me that he needs advisers around him. Do you have any confidence his advisers can massage the message . I'm not so sure. No I don't have that confidence Luigi you know when I look at Rome and I look at all that's going on how does Italy fold into trump economics. I mean the populism that we see in Italy has to make Mr. Trump adapt and adjust doesn't it . Actually I think that the public is in easily have to say is better than the tramps populist because there is no element of racism in in in in that fast movement. There's no element of races in that. There's somebody who tries to imitate Le Pen . The ease but the most are the biggest party of the opposition which is the Five Star Movement. There is no element of races and it's not even necessarily anti globalization maybe aren't that euro but not on globalization so I take the Five Star Movement populist over Trump Park .

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Zingales: Dawn of Trump's Crony-Capitalist World

In today's "Morning Must Read," Bloomberg’s Tom Keene and Francine Lacqua highlight comments on globalization and U.S. President-elect Donald Trump. He speaks on "Bloomberg Surveillance." (Source: Bloomberg)