Trump unleashes worrying trends.

Author:Shah, Kokil K.
Position:Letters - Letter to the editor
 
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Baffour Ankomah's analysis ('US aggression affects us all', NA, June 2018) is a very well written criticism of US President Donald Trump's withdrawal from the Joint Comprehensive Plan Of Action (JCPOA) signed between Iran and the P5 + 1 group of countries.

How will Iran's economy respond when the first sanctions target its central bank and then later on, its oil sector? Will this not raise global oil prices, leading the world economy into higher inflation and recession?

Already transatlantic relations between the US and its old European allies have reached new lows, since the collapse of the G7 meeting in Vancouver that resulted in an open trade spat never occasioned in the past.

The EU and Canada expressed outrage at the new US policy to impose tariffs on their exports of steel and aluminium. This has resulted in a breakdown of any consensus between the world's major economies.

In sharp contrast to the G7, a similar summit took place in the Chinese city of Qingdao--that of the Shanghai Cooperation Organisation, which revealed hardly any opposing views amongst the summit members.

Meanwhile new events have been witnessed in the global arena which has absolute no connection with any of the US's aggressive tactics in parts of South America, Middle East, and Africa. Argentina recently saw public anger after it introduced a raft of IMF austerity measures to hike taxes. In Jordan...

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