InSight Special Lectures (34) “Globalization Redefined By Trump Presidency”
InSight Special Lectures (34) “Globalization Redefined by Trump Presidency” by
Dr. Sandeep Krishnamurthy Dean, Bothell School of Business | University of Washington, USA Visiting Professor, MYRA School of Business, Mysore
When Adolf Hitler took over the reins of Germany, little did the world guess the impact his reign would have on the global economy, on geo-political relationships, on international trade and even sporting events. What then should India expect from the Trump Presidency and what should Indian businesses in general and future Indian managers make of the developments happening in the United States of America?
Dr. Sandeep Krishnamurthy, Dean and Professor, University of Washington Bothell School of Business, USA, Visiting Professor and a dear friend of MYRA shared his thoughts and the general cautiousness and apprehension with which people across the world are treating Donald Trump’s announcements and decisions.
Addressing students and faculty of MYRA School of Business last week, Dr. Krishnamurthy mentioned that while viewing and evaluating Trump’s words and actions, one should always understand that he is a businessman and therefore he treats every matter as a business negotiation.
The popular opinion of Trump is that he considers the USA as his business and all other nations as its suppliers. This explains his being wary of multilateral trade agreements and treaties and his eagerness to have bilateral discussions with every other nation. His actions point towards reducing the bargaining power of suppliers.
Another contentious issue that has a direct effect on India is Trump’s call to impose restrictions on the H1B visa”. However, the world and India might find solace in the fact that a lot of documents and statements that are coming out from the White House are only ‘executive orders’ and not actual laws. Trump’s claim that he likes Indians and Hindus must be taken with a pinch of salt that his interactions with Indians and Hindus would be restricted to the Patel community in the USA – businessmen like him. However, it goes without saying that Indian companies, including the IT and ITeS sector would be better off if they start innovating and delivering true value because failing to plan definitely means planning to fail.
Only time will tell how Trump’s decision to adopt a non-interventionist approach in global conflicts unlike his predecessors will actually impact global terrorism and whether his call to ‘Make America Great Again’ will actually help ‘Make India Great Again’ by stemming brain drain and giving a boost to the manufacturing sector in India.
Will this create a shift in the balance of power towards India? It is anybody’s guess now.