Is “The West” dead?

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Via The Australian:

Donald Trump created “utter panic’’ among NATO allies — who have agreed to pay more, and on a quicker timeline — after he warned the US could withdraw from the ­organisation in January if other wealthy countries did not ­immediately increase their spending on defence to 2 per cent of gross domestic product.

As a result of his demands, Mr Trump last night said countries had acquiesced and “we are doing numbers like they’ve never done before or ever seen before’’ and “everyone agreed to up their commitment’’. He insisted NATO was much stronger than it was two days ago and the US commitment to the alliance remained “very strong”.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.