You Can't Argue With China's Stupendous Success

I spent ten days in May talking with institutional investors in Singapore, Hong Kong, Tokyo and Beijing. There was considerable interest in the various problems the Trump administration was encountering that prevented the implementation of his pro-growth agenda. These investors strongly believe that Asia would benefit from greater American growth. One institutional investor in Singapore went so far as to wonder whether electing a billionaire as president, a man who was accustomed to doing things his own way without opposition, didn't represent “a peaking of capitalism.” While I do not support that view, there is no question that Asians are following the political developments in the United States closely, because America is a critical factor in the economies of the region. I was asked almost everywhere whether Trump would be impeached and I told questioners it was unlikely.