Trump will claim victory in the next couple of weeks and then reverse the policies he has introduced: Ramesh Damani

Ramesh Damani, Member, BSE, says like Lyndon Johnson on Vietnam, Donald Trump will just declare victory in the next couple of weeks and then change all the policies that he has introduced, saying that, oh, my policies have been achieved, everyone has come to the negotiating table, everyone is scared of America. He will declare victory because he will never admit loss. He will declare victory and the rest of the world will move back to the regime we were in.
How should the world look at the tariff announcements by the US administration? Old school economists are saying that this is against the classic economic theory. This means inflation comes back, de-globalisation starts, and that is going to lead to serious contraction in the US economy.
Ramesh Damani: There is a movie out now called The Emergency, and I remember that as a young student in 1975, the then Prime Minister Mrs Indira Gandhi imposed the emergency.

One of the tallest leaders of the opposition at that time was Jayaprakash Narayan. He was quoted in the press as saying when he was arrested and escorted to jail, vinash kale viprit buddhi, which loosely translated means that when bad days are here, you make bad decisions. I feel the same thing about what Donald Trump is doing.

It is a vinash kale viprit buddhi. The order that has been built by America, NATO, Bretton Woods, WTO, GATT, is being undone by a man in a stunning space of 10 weeks.
So, I tend to agree with what the economists are saying, that the world as we knew it, and the world as we prospered in the last 35 years, is irretrievably broken and changed and it is done in a space of 10 weeks.