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Former US ambassador warns of economic nationalism post-COVID-19

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As the coronavirus crisis in the United States deepens, the US government has issued the first ever federal disaster declaration in the nation’s history.

The virus has now exceeded 581,000 cases, and more than 23,000 Americans have been killed.

In New York alone 10,000 people have died – triple the death toll of the September 11 terror attacks.

Former Ambassador of Australia to the United States Joe Hockey is forecasting a wave of “new economic nationalism around the world” in the wake of the pandemic.

“I think the United States is going to start to demand that its supply lines come from either the US or highly trusted partners like Australia,” he tells Ben Fordham.

“China is a huge party of the American supply chain, and the Americans are saying ‘enough’.

“It will get to that point in Australia as well.”

Mr Hockey also dismissed criticism leveled at President Donald Trump for planning to reopen the economy by the start of May, arguing leaders have a responsibility to issue a consistent and hopeful message.

“The cost of social unrest is enormous when it’s associated with unemployment.

“I have sympathy for the leaders who have to make those decisions.”

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Image: Getty