"Krone" commentary

Trump’s new imperialism

Christian Baha is a stock market expert and founded Austria's first stock exchange terminal in 1993, which delivers data in real time. In 1996, he established the world's first hedge fund for private investors. Baha has always pursued the vision of making funds for wealthy individuals accessible to smaller investors.

(Bild: stock.adobe.com, Krone KREATIV)

The inauguration of Donald Trump as the 47th US president heralds a global turning point. By laying claim to the Panama Canal and Greenland and calling on Canada to join the USA as the 51st state, Trump has made it clear that the world order is not set in stone.

Panama was founded in 1903 at the instigation of the USA in order to build the canal as one of the most important trade routes. Greenland, which belongs to Denmark, is also about strategic advantages. The US military base on Greenland not only marks the halfway point to Russia, it also plays a central role in space surveillance. Canada, like Denmark, is a founding member of NATO and is therefore militarily dependent on the USA, the world's strongest military power. The northern neighbors are economically dependent on the United States.

It is not entirely impossible that punitive tariffs of 25 percent and export bans will be enough to sway Canada towards the USA. The two other military superpowers, Russia and China, would then probably not protest much at all. Instead, they would prefer to annex Ukraine and Taiwan. A big deal for Trump and just the beginning of a new imperialism.

As the world reorganizes itself, Austria should reflect on its neutral tradition. De facto, we can confidently offer the superpowers a safe haven. For solutions at the negotiating table.