>However, the US President isn’t in on the plan, and Mr Morrison has been warned of the dangers for months. In his last Budget as Treasurer in May, Mr Morrison was told that global factors could undo his plans.
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>The documents released pointed to “an increasing risk of global instability in the longer term — such factors as faster tightening of monetary policy, geopolitical tensions, and policy uncertainty in relation to trade protection”.
agree this is notable. consider further that Trump is playing a long game economically (even though it looks like a short game in that there have been huge immediate gains). the economic incentives he is providing with tariffs and focus on manufacturing are pimarily to businesses - which generates criticism from the left. but the long term effect (especially when combined with restricting immigration) is long term increase in demand for US workers. Which drives up wages, which redistributes the overall wealth back into the middle and lower classes. Which structurally is something that needs to happen very badly. This is why POTUS keeps indicating that this is only the beginning of the economic growth. Getting AUS and others on board will happen. And will happen in a context that is very beneficial for the US. POTUS is driving this shift, everyone else is reacting (and often reacting late and poorly). Fortune, as they say, favors the bold.