The real and present danger to the world

In an op-ed "The Real Threat to American Prosperity", published by the UK newspaper Financial Times on Saturday, Nobel-winning economist Daron Acemoglu analyzed the influence of the United States' trade wars and tech industry hubris on the country, and how loss of faith in US institutions could spiral further.

With the Donald Trump administration's domestic and foreign policies aggravating the risks and uncertainties faced by the world in an unpredictable way, the US included, the professor of economics of the Massachusetts Institute of Technology called on the US people to think of the possible consequences of such a situation, and reflect on how they should respond to it.

Reviewing the US' development since early last century, Acemoglu observed that a key pillar of what is regarded as the American Century has been the country's ability to shape the world order in a way that benefits its own economy, including its financial and technology sectors.