For the past several decades, most of the world has been part of the neoliberal economic model. It burst onto the mainstream with Margaret Thatcher and Ronald Reagan in the late 70s and 80s but gained even more prominence after the dissolution of the Soviet Union in 1991 and the emergence of the United States of America as the global hegemon. This era was underpinned by the free flow of capital across borders, low tariffs and the financialisation of the economy. 

But last week something changed when US President Donald Trump declared “Liberation Day” and hit every state with a slew of tariffs. Markets around the world reacted with shock and economists and diplomats from all corners of the globe are working overtime. 

So what does this all mean for neoliberalism? 

We speak to Professor Jomo Kwame Sundaram. He’s a prominent academic, economist and public intellectual known for his extensive work in development economics and social justice.

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