TOKYO — Donald Trump would make currency devaluation great again in a second term.
Surrogates for the former US President are telegraphing a strategy to weaken the dollar unilaterally to advantage exporters. As Politico reports, for example, Trumpworld is “actively debating” an Argentina-like pivot at the behest of advisors like Robert Lighthizer, Trump’s former international trade representative.
Instead of “America first,” such a detour might do more to advantage China in the longer run.
If devaluation were a strategy for prosperity, Buenos Aires would be running a Group of Seven economy. Turkey and Zimbabwe would be booming. Indonesia would be giving China a run for its money as Asia’s biggest economy.
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