One year since President Trump took office, what has been the impact for businesses in Asia? Leon Perera, CEO of Spire Research and Consulting, shared his thoughts in The Business Times – Views from the Top section on 27 November 2017 on the impact on global economy.
Thus far, Donald Trump’s Presidency has not been bad for the American stock market and the US dollar. However, the expected infrastructure spending and tax cuts, which drove stock market exuberance in 2016, are still far from being realized and could well be at risk.
Perera opined that President Trump’s withdrawal from the Trans-Pacific Partnership (TPP) has caused a strain in global trade relations and has raised the risk of trade frictions. President Trump has also overseen a decline in US influence in the Middle East and Asia.
However, the basic fundamentals of the US economy remain strong thanks to its world-class universities, innovative companies, confident consumers, a strong start-up sector as well as its pervasive deployment of cutting-edge technology.
Despite the uncertainties that the Trump Presidency has precipitated, the US will remain an indispensable investment and trade partner to Asia for the foreseeable future.