New Monarchy: How Analysts Explain Trump's Approach to Undermining the Global Order?

US President Donald Trump's insistence on undermining the existing global order has sparked a wide wave of studies seeking to explain his vision for the role of the United States, with a new theory gaining increasing attention describing his era as a 'new monarchy'. This theory, reviewed by international press sources, suggests that the current style of governance closely resembles the eras of royal families in the 16th century, such as the Tudors and the Habsburgs.

The fundamental characteristic of this description is that global economic policymaking is now conducted through personal, family, and business relationships, far from traditional national interests or long-term growth. Academics Abraham Newman and Stacy Goddard coined this term, considering foreign policy to have transformed into a tool for directing influence and money for the benefit of the narrow circle surrounding the president.

Observers believe that this analogy reflects Trump's style, described as autocratic, his disdain for international rules, and its intersection with the concept of 'crony capitalism'. In this context, Philip Campanti, a professor at Johns Hopkins University, explained that this approach harms the economy because market winners are not those with the best ideas, but those with the strongest connections, which hinders productivity and overall prosperity.

The features of this approach are evident in dealing with opponents or allies; last spring, Trump threatened to terminate government contracts with Elon Musk's business empire after the latter criticized him. Major deals, such as the arrangements for the 'TikTok' application in America, also show the entry of investors from Trump's inner circle, including companies associated with the president's son-in-law Jared Kushner and other Emirati companies that have concluded deals with the president's family.

Internationally, Trump did not hesitate to use economic tools for personal or narrow political purposes, raising tariffs on Switzerland due to a dispute with its former president, and imposing exorbitant tariffs on Brazil for refusing to intervene in the trial of his ally Jair Bolsonaro. This pattern of governance creates uncertainty and hinders global investments due to the confusion of governing rules.

With decision-making power concentrated in the hands of the president's entourage instead of traditional bureaucratic institutions, the effectiveness of usual diplomatic communication channels has declined. While challenges to the global order are increasing, estimates indicate that the financial empire of the Trump family and its allies is experiencing significant prosperity, with his family's profits reaching at least $1.4 billion so far.

Foreign policy in the United States has become a tool for directing money and influence to Trump and his closest aides, rather than competing with adversaries.