The Disintegration of North America

The Disintegration of North America

Almost exactly 30 years ago, Canadian Bacon depicted a U.S. president picking on his neighbor to the north to boost his sagging approval ratings. Starring Alan Alda, John Candy, and Rhea Perlman, the film was supposed to be a comedy. Director Michael Moore was trying to satirize the U.S. penchant for invading other countries. Taking that notion to its absurd limit, Moore chose to depict a skirmish with Canada. Ah, the good old days, when you cou…

Trump Has Exposed the Fragility of the Global Dollar System

What caused Donald Trump to walk back on many of his tariffs last week was not domestic pressure but a run on the market for US Treasuries led by large institutional savers. If US debt is no longer a safe asset, then American hegemony is also at risk. US president Donald Trump looks on after signing an executive order in the Oval Office of the White House on April 9, 2025, in Washington, DC. (Saul Loeb / AFP via Getty Images) “The bond market i…

How Trump’s tariff shock could reroute decarbonisation

The new tariffs are likely to trigger a global reset in supply chains and climate strategies. But the disruption could also open space for new alliances and a more diversified energy transition In his last term, too, Trump had launched a tariff war, but that was only against China. This time around, he has slapped tariffs on 180 countries. As of now, nearly half of these countries have won a 90-day reprieve. By the end of these three months, how…