Does the Washington Consensus die with the terminated TPP?
For a quarter-century, the Washington Consensus provided the paradigm for the international orientation of the United States. Coined by an economist in 1989 to refer to 10 points of neoliberal-ish economic theory agreed upon in practice by the IMF, World Bank, and US government, several are now openly flouted by Trump:
—"Invoking language not heard since the 1930s," he won't continue to support development efforts or international cooperation.
—He has promised to return manufacturing to American shores by reversing free trade, even though "unfair" free trade isn't to blame for the sector's decline and his policies will only benefit billionaires.
—The rejection of the TPP, supported by the centrists in both parties, might be the single biggest blow to the Washington Consensus (and China's gain).