Growing Out of U.S. Leadership

Adair Turner: “Donald Trump’s election has been greeted around the world with justifiable bewilderment and fear. His victory – following a fact-free, vicious election campaign – has trashed the brand of American democracy. But, while Trump is impulsive and occasionally vindictive – a potentially fatal mix in an already fragile world – his election should be a spur to challenge failed ideas and to move beyond excessive reliance on the United States’ inevitably imperfect global leadership.”

“Few of Trump’s campaign comments can be described as insightful and fair, but he had a point when he suggested that Europe cannot rely on America to defend it if it remains unwilling to make a fair contribution to military capability. America spends close to 4% of its GDP on defense, and accounts for some 70% of total military spending by all NATO members. Most European countries fail to meet the Alliance’s 2%-of-GDP target for defense spending, but still expect America to provide security guarantees against, for example, Russian adventurism. A credible commitment by the United Kingdom, France, and Germany to increase defense spending not just to 2% but to 3% of GDP, would at least reduce the dangerous imbalance at NATO’s core.”

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