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How does Trump use power and information to influence the global economic landscape?
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The Trump administration’s recent policies have had a significant volatility effect on the crypto market. In January, when Trump signed an executive order to establish a regulatory framework for cryptocurrencies and study national cryptocurrency reserves, the market responded positively, pushing the total market value of cryptocurrencies to $3.65 trillion at the end of the month, a cumulative increase of 9.14%. However, the introduction of the tariff increase policy in February quickly reversed the previous market trend. In particular, after the announcement of long-term import tariffs on China, Canada, and Mexico on February 3, the crypto market saw a significant decline in linkage with the stock market: Bitcoin fell 8% in 24 hours, and Ethereum plummeted by more than 10%, triggering a $900 million liquidation across the network and forced liquidation of 310,000 investors.
Although the United States has a strong constitutional system and democratic tradition, during Trump's presidency, many of his words and deeds were widely criticized as having dictatorial tendencies. This evaluation is not groundless, but is based on his multiple attacks on institutional norms, democratic mechanisms, public opinion environment and power structure. Although Trump failed to completely break the institutional framework of the United States, his behavior reflects the typical characteristics of a dictator - breaking institutional boundaries, suppressing dissent, and strengthening personal authority.
During his administration, Trump frequently used executive orders to advance policies, including building a US-Mexico border wall, issuing a Muslim ban, and cutting environmental regulations. He even declared a national emergency to mobilize military funds when Congress refused to allocate funds for the border wall, bypassing the constraints of the legislature. This behavior undermined the principle of separation of powers in the US Constitution, allowing for an unprecedented expansion of executive power, and was considered to have a clear tendency towards centralization.
Trump often calls media that criticize him fake news, and even uses the term enemy of the people to refer to traditional news organizations such as CNN and The New York Times. He repeatedly attacks journalists, TV hosts and commentators on Twitter, inciting supporters to be hostile to the media. In political communication, this method of delegitimizing the media is one of the public opinion control strategies commonly used by authoritarian leaders, with the aim of weakening the public's trust in multiple information sources and establishing information monopoly.
After the 2020 presidential election, Trump resolutely refused to admit defeat, accused the election of being stolen, and repeatedly demanded that states recount or annul the results. More seriously, his remarks ultimately led to the Capitol riots on January 6, 2021, when a large number of supporters stormed Congress in an attempt to prevent the certification of Biden's election. This incident was widely described by international public opinion as a dark day for American democracy and an obvious attempt to interfere with the peaceful transfer of power, with the essential characteristics of authoritarianism.
Businessmen + Dictatorship = Market Manipulation
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The capital market regards Trump himself as a hype target, which is itself a manifestation of his branding and financialization
