{"id":112077,"date":"2024-12-31T08:03:35","date_gmt":"2024-12-31T07:03:35","guid":{"rendered":"https:\/\/mallorcaglobalmag.es\/?p=112077"},"modified":"2024-12-23T09:44:57","modified_gmt":"2024-12-23T08:44:57","slug":"opinion-impossible-return-past-trump-aleix-calveras","status":"publish","type":"post","link":"https:\/\/mallorcaglobalmag.es\/en\/opinion-impossible-return-past-trump-aleix-calveras\/","title":{"rendered":"The impossible return to Trump&#8217;s past"},"content":{"rendered":"<p><img decoding=\"async\" class=\"size-full wp-image-112309 alignright\" src=\"https:\/\/mallorcaglobalmag.es\/wp-content\/uploads\/2024\/12\/ALEIX-CALVERAS-INTERIOR-ARTICULO.jpg\" alt=\"Aleix Calveras\" width=\"396\" height=\"192\" \/><\/p>\n<p><strong>A central element in Trump&#8217;s recent election platform,<\/strong> already present in his 2016 campaign, is the proposal <strong>to establish or increase tariffs on manufactured imports, especially from China.<\/strong> The stated aim of this measure is to revitalise the manufacturing sector, which a <strong>few decades ago<\/strong> was a <strong>pillar of the US economy,<\/strong> but which lost weight after China&#8217;s entry into the World Trade Organisation in 2001 and the boom in imports that it brought with it.<\/p>\n<p>In the U.S., the resulting <strong>factory closures and job losses hit certain regions of the Midwes<\/strong>t hard, particularly non-college-educated workers who used to earn good wages in the manufacturing sector. This geographically concentrated impact has <strong>generated not only economic consequences<\/strong>, but also <strong>profound political and social repercussions.<\/strong> While the tariffs were initially intended to revive manufacturing after decades of<strong> hyper-globalisation,<\/strong> protectionist trade policy is expanding, influenced by growing geopolitical tensions with China and Russia. Today, therefore, these measures respond to both economic objectives and strategic interests.<\/p>\n<p><img decoding=\"async\" class=\"wp-image-112055 alignleft\" src=\"https:\/\/mallorcaglobalmag.es\/wp-content\/uploads\/2024\/12\/the-white-house-in-washington-dc-is-the-home-pres-2023-11-27-04-52-31-utc.webp\" alt=\"Casa Blanca\" width=\"424\" height=\"255\" \/>Will Trump succeed in <strong>bringing back manufacturing<\/strong> and \u2018good jobs\u2019 for the non-college educated middle class? Most probably not. In recent decades, technological change has been intense, with <strong>deep automation of production processes<\/strong> in the manufacturing sector. Also, the <strong>weight of manufacturing<\/strong> in economies \u2018naturally\u2019 <strong>decreases<\/strong> in favour of the service sector with the development of the latter.<\/p>\n<p>Thus, while higher tariffs will bring manufacturing production back to the U.S., it will be different from what it was decades ago: <strong>much more capital intensive<\/strong>, with few jobs, and most of them low-wage jobs for non-college educated workers due to the bias of automation processes. Thus, although the<strong> global economic and political effects of higher tariffs will undoubtedly be felt<\/strong>, a return to the past is not possible: the desirable search for good jobs will have to explore other avenues.<\/p>\n<p>From <strong>a Balearic perspective,<\/strong> this analysis suggests that the <strong>recurrent calls to diversify our economy beyond the tourist sector,<\/strong> into industrial activity, with the aim &#8211; among others &#8211; of improving the quality and wages of jobs, have little chance of success. Economic diversification <strong>should focus on sectors<\/strong> that are more compatible with the <strong>island&#8217;s reality,<\/strong> <strong>related to tourist activity<\/strong>, with a commitment to technological innovation and services with high added value, which can offer both economic sustainability and quality <strong>employment opportunities.<\/strong><\/p>\n<p><a href=\"https:\/\/mallorcaglobalmag.es\/en\/the-magazine\/\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"aligncenter wp-image-111314 size-full\" src=\"https:\/\/mallorcaglobalmag.es\/wp-content\/uploads\/2024\/12\/OPINION-CON-PORTADA_ENG.png\" alt=\"\" width=\"780\" height=\"141\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A central element in Trump&#8217;s recent election platform, already present <a href=\"https:\/\/mallorcaglobalmag.es\/en\/opinion-impossible-return-past-trump-aleix-calveras\/\"> [&#8230;]<\/a><\/p>\n","protected":false},"author":2,"featured_media":112313,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1611,1512],"tags":[],"class_list":["post-112077","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aleix-calveras-en","category-opinion-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.2 - 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