, Columnist
The World According to Trump Is Already Here
Central banks are making zero-sum moves, and we can expect a lot more during the next four years.
Making the world zero-sum again.
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Get used to this. Confusion reading the signals coming from the global economy has combined with the radical uncertainty generated by the imminent return of Donald Trump to the White House to send markets in opposite directions. The presiding philosophy for the next four years will be a zero-sum world, where gains can only come at others’ expense. That’s led in the last two days to very surprising central bank decisions and strange market reactions.