Trump's foreign trade and economic policy has relied heavily on capital flight to achieve foreign policy objectives.  Prior to the COVID-19 pandemic, there was ample evidence that Trump's capital strategy was both productive and effective in achieving, or at least helping to achieve, foreign policy objectives.  Undoubtedly, capital flight from China strengthened the U.S.'s hand in negotiating a more favorable trade relationship with China. The U.S. struggle to gain footing in the pandemic-afflicted world raises the question: how will capital respond to the pandemic, and will it undermine the Trump policy, returning leverage and power to competing nations?  Any answer is far from certain and arguably premature, given that no one knows the duration of the pandemic or the relative durations of dislocation competing countries will experience; those with far less mobility and freedom and therefore less opportunity for spread...(Read Full Post)