The Bulletin of the Institute of Economics of the Russian Academy of Sciences № 6/2025. World Economy. 

 

Nataliya V. Smorodinskaya

Cand. Sci. (Econ.), Leading Researcher, Institute of Economics of the RAS, Moscow, Russia

ORCID: 0000-0002-4741-9197

 

Daniel D. Katukov

Researcher, Institute of Economics of the RAS, Moscow, Russia

ORCID: 0000-0003-3839-5979

 

Vyacheslav E. Malygin

Senior Researcher, Institute of Economics of the RAS, Moscow, Russia

ORCID: 0000-0003-0545-6456

 

TRUMPONOMICS AS THE APOTHEOSIS OF ECONOMIC AND TECHNOLOGICAL NATIONALISM

127-146

377.89 K

Full text

The paper describes, using the example of the US “America First” policy, a global trend of the 2020s — the revival of economic nationalism (EN). We demonstrate how security imperatives are becoming central to economic strategies, with the weaponization of countries’ economic interdependencies emerging as a distinctive policy instrument. We examine the contemporary model of EN, identifying its key features and instruments, with particular emphasis on technological nationalism as its core component. This analytical framework helps us to reveal the contradictory nature of Trumponomics (the President Trump’s course since 2025), the trap of irreconcilable technological rivalry between the US and China, and the risks of Trump’s ‘bilateral deals” for the global economy. We find that nations’ transition under the EN doctrine from liberal principles of economic openness and free trade to protectionist and self-sufficiency ideologies entails the accumulation of economic inefficiencies. This trend can ultimately undermine countries’ ability to achieve those very goals of sustainable and secure development for which they have made this policy shift.

Keywords: economic nationalism, technological sovereignty, weaponization of interdependencies, securitization, trade war, Trumponomics, US-China rivalry.

JEL: F52, F50, F13

EDN: WGDALA

DOI: https://doi.org/10.52180/2073-6487_2025_6_127_146

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Manuscript submission date: 16.10.2025

Manuscript acceptance date: 18.11.2025

 

For citation:

Smorodinskaya N.V., Katukov D.D., Malygin V.E. Trumponomics as the apotheosis of economic and technological nationalism// Vestnik Instituta Ekonomiki Rossiyskoy Akademii Nauk. 2025. № 6. Pp. 127-146. (In Russ.). https://doi.org/10.52180/2073-6487_2025_6_127_146 EDN: WGDALA

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