By C.P. Chandrasekhar in Frontline 7 March 2025
Make no mistake: Trump and his team do not wish to destroy the US state; they aim to capture it and make it even more an instrument to serve the rich.
If the first month of Donald Trump’s second term as US President is any indication, global capitalism—under US hegemony—appears to be undergoing an internally driven restructuring. It must be noted that this process, as other restructuring episodes in the past—the New Deal following the Great Depression and the embrace of neoliberalism following the inflationary crisis of the 1970s—is driven by policy. But the policy shifts in each case were spurred and necessitated by real-world crises and had implications for the regime of accumulation that followed.
Among the many early signals from the Trump administration indicating a reset of US policy at home and abroad, five initiatives stand out in the economic sphere.
Read more here: https://frontline.thehindu.com/columns/donald-trump-second-term-global-capitalism-restructuring/article69257999.ece
Abbreviated version here: https://mronline.org/2025/03/21/trump-2-0-an-inflection-point-for-global-capitalism/