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Economy

Coexistence key to capitalism after Trump win

A new approach to commerce as anti-globalization takes hold

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Water leaks from a fire hydrant in front of abandoned houses in Detroit in this photo from 2015.   © Reuters

NEW YORK -- Once the U.S. presidential election was over and Donald Trump emerged the victor, Thomas Gallagher of U.S. political consultancy The Scowcroft Group feared the demise of the North American Free Trade Agreement.

Against all expectations, the Rust Belt delivered Trump the presidency. The Midwest region, home to Detroit, the epicenter of American auto manufacturing in the state of Michigan, is emblematic of an old economy. Residents there had reason to support Trump, and pent-up grievances over two major issues spilled over. 

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