At the Hindustan Times Leadership Summit (HTLS2024) on November 16th, India’s External Affairs Minister, S. Jaishankar, provided an insightful analysis of the 2024 US Presidential election results, highlighting a growing disillusionment among American voters with globalization’s effects on their lives. Jaishankar emphasized that the election outcome reflected the electorate’s dissatisfaction with the negative consequences of globalization, such as job losses and economic instability.
Speaking in an engaging conversation with Hindustan Times Editor-in-Chief R Sukumar, Jaishankar said, “The American electorate’s verdict suggests a deep disenchantment with the repercussions of globalization.” This observation points to a broader global trend, with more nations reconsidering the impact of globalization on their domestic economies and societies.
The 22nd edition of the HTLS in New Delhi, which marked the centennial celebration of Hindustan Times, provided a prominent platform for such crucial discussions. Earlier in the day, Prime Minister Narendra Modi inaugurated the event, highlighting the newspaper’s pivotal role in shaping India’s journalistic landscape, and also launched a special commemorative stamp.
Jaishankar also predicted a potential shift in US foreign policy under a second Trump administration, noting that economic and manufacturing priorities would likely take center stage. He linked this anticipated change to the increasing intersection of technology and national security, emphasizing the growing role of digital innovation and artificial intelligence (AI) in shaping global geopolitical strategies. “In today’s world, technology and national security cannot be seen as separate entities,” Jaishankar stated.
Despite acknowledging the US’s immense global influence, Jaishankar underscored that even the most powerful nations, including the US, still require international collaboration to tackle pressing global challenges. This highlights the importance of global partnerships in navigating the complexities of a highly interconnected world.
Providing historical context, Jaishankar traced the origins of the current globalization model to the Clinton administration, noting that while countries like China have benefitted significantly from globalization, the uneven distribution of its rewards has sparked growing resentment in certain quarters, especially in developed economies.
In conclusion, Jaishankar’s analysis at HTLS2024 offers a timely and nuanced perspective on the intersection of US politics, globalization, and international relations, urging a more adaptive, collaborative, and balanced approach to the evolving global landscape.
