Listen to the keynote speech at IIF by the US Sec. of the Treasury Scott Bessent.
It was a very good speech, solid in both its substance and its form.
My only minor criticism concerns Secretary Bessent’s redefinition of “America First.”
He characterized it as “not America alone, but collaboration with others.” While this might represent a sound policy direction, it significantly distorts the actual meaning of the phrase “America First” intended by President Trump.
This redefinition feels almost like an “under-the-table switch” or an attempt to pass off a new concept under the guise of the original slogan. One could argue that the redefinition has substituted the original idea with something better; however, one cannot credibly claim that this new definition accurately represents what Trump’s “America First” truly means or stands for.
Sure, it may be a euphemistic presentation for better diplomacy, but it just does not sound true. It is just as bad as the grossly distorted, slanderous understanding of the same phrase by the Chinese media, which literally suggests that “America first” means America must step on the heads of others in everything. They pulled in opposite directions, but neither is true.
There are two credible interpretations of Trump’s “America First”:
1. A more optimistic interpretation: “America First” means that America leads, and other countries are expected to follow.
2. A more pessimistic interpretation: “America First” means that America must save itself before it can effectively help other nations (the swimmer’s motto).
America currently exists in a condition analogous to a quantum superposition of these two states: 50% in State 1 (optimism) and 50% in State 2 (pessimism). If the trend of the last 25 years, especially that of the previous four years, continues, however, these proportions will soon run away in one direction, ultimately leading to a situation entirely characterized by the pessimistic State 2. (See The American reality; and The American addiction and the trade war)
For that, one can only hope that this administration achieves what it aims to do. Sec. Bessent is both knowledgeable and wise, in addition to in such a smooth talker. But does he really know what is actually killing America? When the real conflict manifests itself in the American system, will he choose the Wall Street or the Main Street, or better yet, the folks on the streets?
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