Donald Trump’s unexpected comeback in the 2024 US presidential election has raised questions about the future of globalisation. S. Jaishankar, India’s Foreign Minister, shared his insights on how Trump’s re-election will reshape global policies and trade dynamics during a recent briefing with Australian business leaders.
Reordering of Supply Chains: India’s Opportunity
One of the most significant changes predicted is the acceleration of the ongoing global reordering of supply chains. Jaishankar pointed out that while this shift could disrupt established systems, India views it as a golden opportunity. Having missed out on the manufacturing boom in the 1990s, India now has a chance to strengthen its position in global supply chains, potentially starting with companies like Apple.
Geopolitical Hedging: A Changing Global Landscape
Jaishankar also highlighted how geopolitical relationships would evolve under Trump’s leadership. He anticipates more countries, including India, will seek stronger international partnerships to maintain stability in the face of unpredictable policy changes.
The Rise of Digital Trust and Payment Platforms
The digital realm will play a more significant role in the post-Trump era. Jaishankar explained that the trust surrounding digital technologies, such as payment platforms, will become crucial. With increasing scrutiny over the digital tools countries use, choosing the right platform will be essential for securing global relationships.
Mobility: A Global Workforce on the Move
Finally, Jaishankar addressed the growing importance of mobility in a rapidly changing world. As countries face demographic challenges, there will be a greater need for skilled workers. Even under Trump, the US is expected to adjust its immigration policies to prioritize economically-justified mobility, fostering a more integrated global workforce.
