‘It’s Déjà Vu All Over Again’?

There are surely some lessons that can be learned from the choices made by the United States and its allies in the mid and late 1990s.

A Chinese couple on a tricycle pass a billboard welcoming the country's membership to the World Trade Organisation (WTO), along a street in Beijing on Dec. 23, 2001. AFP via Getty Images

Commentary

At the end of the Cold War while the “Eastern Bloc” was dissolving rapidly, most Western economies entered into a recession. So the “winners” of the Cold War were not in a position to extract vengeance from the “losers.” This was also the time when Donald Trump’s businesses were reporting close to a billion-dollar loss; almost everyone was losing money back then.