These orders reaffirmed his commitment to his signature slogan- “Make America Great Again” (MAGA)—by implementing both domestic and international measures.
On the domestic front, key policies included a corporate tax rate reduction from 25% to 15% and stricter enforcement of immigration laws, including deportation of illegal migrants, Internationally, Trump's focus has been on restoring America's economic dominance by rolling back globalization and freer trade measures. His administration has begun to impose higher tariffs on imports, particularly from neighboring Canada and Mexico, and of course China.
The globalization reversal: A setback for developing nations
Globalization has significantly benefited developing economies, spurring GDP growth and increasing per capita incomes. The reforms that fueled this growth included:
Moving away from socialist economic models.
Embracing market-driven, incentive-based policies.
Encouraging private sector participation and global trade.
A striking example of this transformation is the communist China. It successfully integrated capitalist strategies into its development framework. Vice Premier Deng Xiaoping famously justified this shift by quoting a Chinese proverb: “It doesn't matter if a cat is black or yellow, as long as it catches mice.” This pragmatic approach propelled China to become the world's second-largest economy, surpassing Japan.
However, Trump remains a staunch opponent of globalization. His “America First” stance favors economic protectionism over free trade. Unwilling to engage in direct military conflicts, he has instead opted for a tariff war, targeting emerging markets- including India, which he previously labeled “the King of Tariffs.”
Understanding tariffs: Tools of trade protection
Esta historia es de la edición March 1-31, 2025 de BUSINESS ECONOMICS.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición March 1-31, 2025 de BUSINESS ECONOMICS.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
"Spirituality is the search for the meaning of our existence and the purpose we serve."
In his insightful address, Ram Nath Kovind underscored the teachings of Paramhansa Ramakrishna, Maa Sarada, and Swami Vivekananda, emphasizing their vision of a world united by love and the boundless potential of the human spirit.
Some schemes welcomed, but real allocation declines
In the Annual Budget, the Finance Minister allocated ₹1.37 lakh crore to the Ministry of Agriculture and Farmers' Welfare, compared to ₹ 1.32 lakh crore in the previous budget.
Of Benchmarks & Benefits
Banks use various benchmark rates to determine loan pricing. Initially, they had complete discretion over interest rates, leading to the adoption of the Prime Lending Rate (PLR). This internally determined rate was applied to the bank’s most creditworthy customers, with additional risk premiums charged for borrowers deemed riskier. However, this system resulted in a wide disparity in interest rates among borrowers.
Sajjan Jindal, JSW Group Chairman receives 'Business Leader of the Decade' award
Sajjan Jindal, JSW Group Chairman, has been conferred with the coveted 'Business Leader of the Decade' honour at the 15th AIMA Managing India Awards, in recognition of his transformative leadership in expanding JSW Group into a global conglomerate.
India needs Development Finance Institutions: Bridging the Gap for MSMEs
India's economic landscape has long been driven by the dynamism of its micro, small, and medium enterprises (MSMEs), which play a crucial role in contributing to GDP and employment.
Rate cut to boost demand, says RBI Report
On February 19, 2025, the Reserve Bank of India (RBI) released its monthly bulletin, providing insights into the state of the economy.
INCOME TAX REFORMS
The new Income Tax Bill aims to streamline taxation by using simpler language and reducing the number of sections. Replacing the complex 1961 Act is a welcome move.
TACKLING INFLATION
India's retail inflation stood at 4.31 percent in January, marking a five-month low and a crucial moment in economic policy.
"Cultivating a global culture of wellness"
Dr. Robert M. Goldman: Dr. Robert Goldman explored the profound connection between science, spirituality, and medicine, emphasizing the importance of holistic longevity in shaping a healthier, more unified world.
Falta Special Economic Zone : it's contribution in the overall socio-economic development of the region
Falta Special Economic Zone (earlier Falta Export Processing Zone) was set up by the Department of Commerce, Government of India in 1984. The Zonal Office of Development Commissioner, Falta SEZ has jurisdiction over the 12 states of West Bengal, Odisha, Jharkhand, Bihar, Assam, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Tripura and Sikkim. BE spoke to Deen Bandhu Singh, Development Commissioner, Falta Special Economic Zone about the current scenario and the impact of the Falta SEZ. Falta Special Economic Zone (earlier Falta Export Processing Zone) was set up by the Department of Commerce, Government of India in 1984. The Zonal Office of Development Commissioner, Falta SEZ has jurisdiction over the 12 states of West Bengal, Odisha, Jharkhand, Bihar, Assam, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Tripura and Sikkim. BE spoke to Deen Bandhu Singh, Development Commissioner, Falta Special Economic Zone about the current scenario and the impact of the Falta SEZ.
