SUNBIZ

Analyst Explains Possible Impact On Us Of Trump Victory

A lot has happened in the international market with Donald Trump winning the US presidential elections. So what is the impact of this on Fiji and our economy? HFC Bank
14 Nov 2016 11:00
Analyst Explains Possible Impact On Us Of Trump Victory
Peter Fuata.

A lot has happened in the international market with Donald Trump winning the US presidential elections.

So what is the impact of this on Fiji and our economy?

HFC Bank treasurer, Peter Fuata, said to comment on its implications on Fiji, we must first understand the people that voted him in and the degree of commitment the president elect will deliver on his promise.

Mr Fuata said: “The win was based on an overarching strategy of employment which rolls up to the American dream of the best

“The forgotten men and women of our country will be forgotten no longer,” Mr Trump had said.

Mr Fuata said: “I believe that that’s at the core of his campaign and strategy.

“This is supported statistically where most of his voters were whites without college degrees according to exit polls.

“And at all levels of income bracket meaning most believe in his experience of a great businessman to make America great again.”

Focussing on Fiji, Mr Fuata said this could mean that exporting to America will get tougher and more expensive as taxes will most likely be raised.

“I suppose wealth and Healthcare are key to any country. Targeting specific countries that are deemed to be taking American jobs and or wealth,” he said.

“Meaning moving manufacturing back to America, collaborating with investors to bring jobs into America.

“Foreign policy that’s more business focused than political, namely because his never worked in the military or for government.

“I suppose a clean and neutral perspective for the benefit of all Americans irrespective of race, religion and political allegiance.

“Thus we focus on the immediate where currencies and equity markets have had a lot of volatility.”

Mr Fuata said the morning after elections on November 10, the Fijian dollar was weaker at 0.4774 which is 40 points lower than the previous day of 0.4814.

“This was also helped by New Zealand interest rate announcement on the same day that saw the RBNZ cut overnight rates by 25 basis points to now settle at 1.75 per cent,” he said.

“Conclusively, the short to medium term of 6 to 12 months will be critically watched by markets as new policies and possible new directions surface.”

Feedback:  rachnal@fijisun.com.fj



Laybuy it 5squares


Get updates from the Fiji Sun, handpicked and delivered to your inbox.


By entering your email address you're giving us permission to send you news and offers. You can opt-out at any time.


Covid 19 - SPC
Total
Subscribe-to-Newspaper
Fiji Sun Instagram
Subscribe-to-Newspaper