Donald Trump, America's president for the second time, is adopting policies that are aimed at Making America Great Again. His approach summarised as MAGA is affecting both the American and global economy. Most of what he has done and is doing has not well thought through. He is listening to a group of advisors who are not well versed in economic matters and have poor understanding of the finer points of policymaking.

The end result is that both the American and world economies are being hurt. He and his associates have declared that one of their aims is to slow down the economic and military rise of China. With this focus is on China, Trump's Washington has launched what can be called the Second Cold War. The first one was launched right after the end of the Second World War and was aimed at containing the rise of what was then known as the Union of Soviet Socialist Republics, the USSR. It contributed to the collapse of the USSR.

The war against the USSR involved mostly military moves focused on forming alliances that would stop the advance of the USSR towards the Arabian Sea and the parts of Asia that were not under the influence of Moscow. Pakistan was recruited as a member of Central Treaty Organization (CENTO) and Southeast Asia Treaty Organization (SEATO). Rewards of membership came in the form of impressive amount of military assistance.

The Americans built two military cantonments – one at Kharian near Islamabad, and the other adjacent to Multan. India was the initial focus of partnership in the Second Cold War, with Washington actively courting New Delhi........

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