Will ‘America First’ Trump International Cooperation and Coordination?
Stuart P.M. Mackintosh
Published: December 2017
Seventy years of American leadership of the international system has ended abruptly shaking the foundations of the post-World War II international architecture. The International Monetary Fund and the World Bank, twin pillars of the post-World War II system, will be adversely impacted by an America First policy since the US has the largest share of votes, the loudest voice, and greatest influence in both institutions. The WTO dispute settlement system needs a minimum of four judges to function, but the U.S. Administration may opt to stymie the operation of this key pillar in global free trade with wilful neglect. It remains essential, therefore, that the Financial Stability Board created in 2009 is not impacted by the Trump Administration’s sceptical view of international regulatory coordination.