The Future of the Dollar
U.S. Financial Power Depends on Washington, Not Beijing
Last week in Foreign Affairs, Richard Fontaine and Robert D. Kaplan analyzed the impact of this year’s campaign populism on U.S. foreign policy. Domestic economic difficulties, they argued, have made Americans less willing to have their country play a large role abroad. Even if neither Donald Trump nor Bernie Sanders ends up as president, future policymakers will have to heed the strong sentiments these candidates have tapped.
At first glance, the data confirm this view. A Pew Research Center report published May 5 found that 65 percent of Republicans and 73 percent of Democrats want the next president to focus on domestic rather than foreign affairs. Almost two-thirds of Trump supporters—and a narrow majority of Sanders backers—agreed that the United States has suffered from its involvement in the global economy. And 61 percent of Americans (as well as 71 percent of Republicans) agreed that the United States has lost the international