From business to politics - Trump has everyone in Davos guessing
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Donald Trump likes to discomfort his enemies. Not to mention his friends, his partners, business adversaries, celebrity critics, anyone, in fact, who could end up on the other side of a deal. As president of the world's largest economy, that makes for a long list, many of them in Davos on Tuesday trying to make sense of what his second term will mean, and not getting very far.
Money blog: Trump's cryptocurrency crashes as critics call it worthless. The World Economic Forum is a body that likes to think it has the answers. The annual conference attracts leaders from business, politics and civil society, gathering to share their wisdom and cut deals on the side.
Less than 48 hours into Trump II not only are they struggling for answers, they're yet not clear what the question is. For European political leaders, already exposed to soaring US growth rates, Trump's still-vague threats to "tax and tariff" could pose a fundamental threat to economic cooperation and stability.
In the absence of firm policy, they promised to work with Trump, but not at all costs. Please use Chrome browser for a more accessible video player. European Commission president Ursula Von der Leyen conceded that the harmonious world order imagined at the turn of the century is dead - "Instead we have a new era of harsh geo-strategic competition.".
The race is one, she said, but not to the bottom. "We will be pragmatic but we will always stand by our principles... because that is the European way.". Outgoing German chancellor Olaf Scholz, already a victim of the European populist wave, acknowledged the uncertainty.
