Trump offers nothing new in Davos speech

In an obvious attempt to assuage the concerns of an elite global audience worried about his protectionist, isolationist “America First” strategy, United States President Donald Trump told attendees at the World Economic Forum in Davos on Friday that “America is open for business”.

The US president was the hottest ticket in town and delivered his speech in a packed conference hall because people were curious about what he would say concerning the common challenges facing the international community.

Yet rather than sharing with his audience American solutions, he used the podium as an opportunity to promote his achievements at home and sell the US as the best place for foreign investment.

Although he availed himself of the Davos podium to argue “America First” does not equal “America alone”, and to “affirm America's friendship and partnership in building a better world”, his sales pitch was simple: “There has never been a better time to hire, to build, to invest and to grow in the United States.”

His rhetoric, cautiously tailored to tone down his irritating tenet, made him sound quite unlike his usual tweeting self. Yet his argument remained America-centric and had little to do with the core concern of the Davos gathering – “creating a shared future in a fractured world”.

Boasting “the resurgence of a strong and prosperous America”, he urged foreign investors to "bring your money, your jobs, your businesses” to the US.

There is no surprise in Trump hawking the benefits of the US as the best place to do business, as he has expressed the sentiment many times before as part of his bid to make America great again.

What was perhaps more surprising was Trump deigning to acknowledge the Davos theme and speak of cooperation “toward shared dreams”. Although there was no clue as to what goals and dreams his administration wants others to share, aside from others helping to make the US great again, economic globalization as the rest of the international community sees it, especially free, unimpeded international trade, is obviously not to Trump’s taste.

Instead, while stating his allegiance to “fair and reciprocal trade”, Trump’s protectionist tendencies and policies threaten to render the already fractured world even more divided.

How these policies are implemented over the coming months will show to what extent the US’ rivalry and competition will damage the global economy.