Mr. Zoellick is one of the America’s most senior public officials, who has advised six US presidents during his career.
He pointed to the rift between the US and China as a serious threat to the global economic recovery.
He told. “The only way the global economy will emerge from the recession.” Adding, “I think the relationships is in freefall today, and I don’t think we know where the bottom is, and that is a very dangerous situation.”
Zoellick, who was also the US deputy secretary of state, said his biggest concern was the escalating tensions between the US and China.
He also warned that, the world could look more like the world of 1900 when the great powers were in competition, if countries start to pull back from globalization and pursue nationalist interests.
Mr. Zoellick blames Donald Trump for causing much of the damage .
He believes that Trump’s skepticism about US alliances and protectionism has added to Asian anxieties at a time when China’s power is starting to overshadow the region.
Mr. Zoellick said, “I have been opposed to Trump from the start, not only because of his policy positions but also because of what I think are flaws in his character.” Adding, he told “I was worried about what he would do with institutions and the constitutions and we are seeing that borne out, and in the pandemic, we are seeing another dimension , which is a question of competence.”
Mr. Zoellick served under previous Republican Presidents George W Bush and George H W Bush. But he is clear about his dislike for the current Republican in office.
He served as the president of the World Bank between 2007 to 2012, the years that encompassed the global financial crisis.
He said, “The 2008-09 financial crisis was a very serious event but we had the G20, central banks co-operating. President Bush and then President Obama were part of international efforts with Gordon Brown.” Adding, “Frankly, even China had a very strong stimulus program and also co-operated in various ways. We don’t have that sense of co-operation today.”