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Reaction as Donald Trump elected president of USA

Wednesday 9 November 2016

Academics at the University of Salford have reacted to Donald Trump being elected the 45th president of the United States of America.

Dr Andreas Tsopanakis is a lecturer in Finance at the University of Salford Business School

Andreas said:

“Regarding the market reaction, the election of Trump is a shock. The immediate reaction is for traders and investors to sell off, turning to safe haven investment positions until the new US government forms and a more solid understanding of their focus is revealed.

“Political risk is always present, especially now as the global economy still suffers from the consequences of the global financial crisis from 2008. Especially in Europe, where many issues are still at stake, Trump’s election will probably not prove beneficial.

“On the contrary, we see Sterling already surging. Mrs May was among the first leaders to congratulate Mr. Trump. The UK government is desperately looking for allies, who will offer them leverage in the future negotiations with EU. But, if the new US president will stick to his current protectionist, anti-globalization rhetoric, I am not sure how this will work in favour of UK and its trade position.

“On the other hand, given the uncertainty in the future of the EU (Italian referendum this December, German elections next year etc.), markets will still remain vulnerable and volatile. Until this election, no matter who used to lead US, economic policies were not that different. We still have to wait and see whether Donald Trump meant what he was saying during his campaign.”

Dr Moritz Pieper, Lecturer in International Relations at the University of Salford comments on how the result could affect International Relations

Moritz said:

“The election of Donald Trump as president of the United States of America signifies a sea change for international relations. As he has made clear during his campaign speeches, an ‘America First’ approach will be determining foreign policies of the new administration. With his expressed hostility to alliance politics, the role of NATO as a US-dominated organization in security governance is being called into question. EU-US relations are also expected to undergo periods of upheaval as US foreign policy towards Russia will depart from Obama’s policy of isolating Russia in international affairs over disagreements in the conflicts in Ukraine and Syria. Trump has called for an end to US-Russian antagonism over geopolitical tensions.

‘We will get along with all nations willing to get along with us’, president-elect Trump announced in his first speech last night. His campaign statements about Iran, however, have given cause for concern about his respect for and understanding of international treaties and agreements. Whether his hostility to overseas entanglements will usher in a new period of American ‘isolationism’ remains to be seen. If anything, this election erodes transatlantic automatisms and calls for a redefinition of order perceptions in a fragmented world.”

Dr James Corum, lecturer in Politics and Contemporary History comments on why Trump may make a good president for the US economy

James said:

“The presidential election result reflects average working class people in America being dissatisfied with professional politicians.

When Trump was holding rallies, Clinton was talking to small groups of multi-millionaires. I also think that Trump had a better campaign slogan. Let’s make America Great again, where as to some extent Hillary Clinton’s campaign statement was all about her.  

“Trump could be good for the US economy. He has built businesses, and knows all about how the economy works. Hillary Clinton has never worked outside of politics in her life. The Obama years have been awful for the economy. More companies are going out of business than starting up. Huge numbers of jobs are being lost. Supporters of Trump recognise that he is not perfect, but I think he is capable of learning.

“People ridiculed Reagan when he was elected in, saying that he came across as a moron, but just like Donald Trump, Reagan understood the economy because he understood business, so he was actually able to improve America’s economy when he was president.”

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Victoria Barker

0161 295 4779