U.S. exceptionalism: At a crossroads

2025-03-11 U.S. exceptionalism: At a crossroads

U.S. exceptionalism: At a crossroads (pdf)

Energy self-sufficiency: From importer to exporter

The world is facing transformational change

Barrier to free trade

A populist backlash against the free trade consensus has gone mainstream in many parts of the world. Nations are increasingly focused on protecting domestic industry, especially in strategic sectors. This represents a tectonic shift in the economic landscape.

Turbulent geopolitics

Nationalism and populism are on the rise amid a backlash to the changes wrought by globalization. The incidence of conflict is increasing as countries compete economically and geopolitically. It appears the world has entered a new, more dangerous era.

Technological breakthroughs

New technologies such as artificial intelligence (AI) has the potential to fundamentally upend global structures. Popular uneasiness promises to contribute to these trends, and a "winner-take-all" view of the next tech revolution pits global powers in an existential race for supremancy.

Increasing debt levels

Debt levels have increased in most parts of the world after two economic shocks in the past two decades (the Global Financial Crisis and COVID). With aging population posing risks to long-term growth, nations will need to make hard decisions to deal with public and private debt loads.

Trade: U.S. is the most insulated major nation