Welcome and Business Outlook Keynote: Global Economic Disruption: Choices for American Businesses

Fred Carstensen

Welcome and Business Outlook Keynote: Global Economic Disruption: Choices for American Businesses

America does not have the weight in the world economy it once had (fallen to about 15% of global GDP). The entire G-7 now is smaller than the E-7 (the top seven emerging economies). The rest of the world realizes that the best strategy is to build new multilateral trade deals that exclude the United States, and then to work at replacing the dollar as the preferred reserve currency while also building financial networks that exclude American banks. No one has done so much to push the nations of the world to collaborate in new ways than the current U.S. administration. China will take the prominent role in writing the new rules of global commerce — very much to the permanent detriment of America.

NESCON 2018