Echoes of an Imperial Folly?

Vastly indebted, the US economy mirrors 17th-century Spain—haunted by unsustainable debt, trade deficits, and global competition—while quietly eyeing a socio-economic realignment rooted in Abrahamic diplomacy and geopolitics

- DIPANKAR DEY

The US President Donald Trump, in his first foreign business trip of his second term, visited three major Arab states—Saudi Arabia, Qatar and the United Arab Emirates (UAE) during May 13-15, for securing significant new investment for the US economy. Trump arrived in the Saudi capital, Riyadh, on Tuesday, May 13, to meet the country's de facto leader Crown Prince Mohammed bin Salman. He attended a summit of Gulf leaders in the city on May 14, before traveling to Qatar that same day, and then ending his three-day trip in the United Arab Emirates (UAE) on May 15. Saudi Arabia was also the first country that Trump visited during his first term of office. This highlights the high level of economic importance Saudi Arabia enjoys in Trump's foreign policy.

Significance of Trump's Visit to Arab States Donald Trump has pushed the US economy to the brink of recession and a potential supply chain meltdown, writes CNN. Consumer prices are expected to rise nearly 2 per cent because of the tariffs that still remain in place. Job losses are expected to hit an extra 456,000 by the end of the year. With rising unemployment and inflation, it appears America is on the verge of stagflation.