Politics

Terms Of Trade: World’s caught in a Catch-22 situation between Trump and US

 The world, before February 28—when the US and Israel decided to attack Iran and inflicted the biggest ever oil shock in the history of capitalism—was obsessed with AI model hallucinations. In the two weeks following that, debate increasingly centres on whether our near-term future depends on the hallucinations of one person who has brought the world to its current predicament: US President Donald Trump. His statements on the origins and future direction of the ongoing conflict have swung so wildly—sometimes simultaneously—that someone on X (formerly Twitter) joked that the new left leaning mayor of New York might have taught dialectics to Trump. The joke would be funny if the economic and human costs of the war were not so high, especially the former for countries and people uninvolved in starting the current conflict.. The Iran war and Trump’s unpredictable decisions highlight a fragile world order, rising geopolitical tensions and growing economic risks for global markets. (AFP). Where does this leave the rest of the world and what some starry-eyed folks still like to call the world order? Let us begin with the most obvious answer.. There is no world order right now. Trump not only completely bypassed existing international and even U.S. rules to launch the war, but he also, most likely, ignored U.S. intelligence regarding not just Iran but also U.S. capabilities, such as munition inventories before entering the conflict. Trump’s latest admission suggests his son-in-law’s input mattered most in his decision to launch the war. The only country which can perhaps claim to have violated more international laws than Trump has recently is Israel in the aftermath of the unequivocally barbaric attacks by Hamas on innocent Israeli citizens. There is a growing consensus among foreign policy observers that US’s policy today is the proverbial dog which is being wagged by its Israeli tail.. To be sure, Trump is not the only US president who has bypassed international rules to launch a war. But he might very well be the first to drag it in a war where the US is, in a way, doing exactly what the last GOP president before Trump, George W Bush Junior warned against. “I’m not going to fire a $2 million missile at a $10 empty tent and hit a camel in the butt”, Bush had said after he attacked Afghanistan to avenge the 9/11 attacks on the US. Trump today is firing missiles worth billions of dollars to intercept Iranian drones worth a few thousand dollars. It is no wonder the latter keep coming and the US is increasingly running out of the former and even having to redeploy them from other important geopolitical theatres, as was described in detail in this Bloomberg story.. Some would say that Trump should never even have engaged with such a decision in the first place. He was, after all, the darling of the MAGA coalition, which has been vocally against any outside military intervention by the US. Well, it turns out, this narrative might have j 

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