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US President Donald Trump will not derail world economy or revise its course, says Gitanas Nausėda, adviser to SEB Bankas' president, noting that one person can cause problems but is not influential enough to bring down a growing economy.
President Donald Trump addressing the US Congress
President Donald Trump addressing the US Congress
© Reuters / Scanpix

Nevertheless, the analyst says turmoil may be caused by Trump's decision to declare a trade war with China.

In Nausėda's words, Trump's policies are feared, however, Wallstreet investors view him in a positive light and stock prices are going up in hopes of lower taxes.

"Look at what is going on since Trump was elected – the stock market is flourishing, and this is probably not due to what he's saying about the Mexico border or the immigration ban. It is prospering due to high expectations that he would implement the home policies, especially, the ones in connection to tax reduction," Nausėda said at an economic conference held by the Valstybė magazine on Wednesday.

In general, Trump enjoys much attention due to the fact that he is different from the earlier presidents of the United States, he added.

"Trump aims to diminish the international weight of the United States, to lock it down, while all of his predecessors wanted to make America the superpower number one both economically and geopolitically. And because they were rather successful in their pursuit, Trump is such a significant personality worldwide today. I can put it this way – if he manages to achieve all of his goals and he is succeeded by Trump the second and the third, then Trump the fourth will be just an ordinary president, which the world will not go berserk over," said the economist.

However, in Nausėda's opinion, Trump can lead to positive effects, if the United States cuts taxes and invests in infrastructure. On the other hand, if Trump refuses to listen to his advisers and declares trade wars on Asia, first of all China, this could lead to trouble.

"Increasing stock market prices then start to go down. (...) Frightened investors will leave China and go to the US," said Nausėda, noting that the scenario was less likely.

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