Metadata

Highlights

Let’s be clear: Trump’s national capitalism likes to flaunt its strength, but it is actually fragile and at bay. Europe has the means to confront it, provided it regains confidence in itself, forges new alliances and calmly analyzes the strengths and limitations of this ideological framework.

This is the first weakness of national capitalism: when powers reach a boiling point, they end up devouring each other. The second is that the dream of prosperity promised by national capitalism always ends up disappointing public expectations because it is, in reality, built on exacerbated social hierarchies and an ever-growing concentration of wealth.

When measured in terms of purchasing power parity, the reality is very different: the productivity gap with Europe disappears entirely.

The reality is that the US is on the verge of losing control of the world, and Trump’s rhetoric won’t change that.

In the face of Trumpism, Europe must, first and foremost, remain true to itself.

Europe must heed the calls from the Global South for economic, fiscal and climate justice.