Biden’s going to have a big to-do list

Foreign Policy: “The sorest financial cankers of the Trump era are all emanations of this contemporary world political economy: the oligarch, the tax-avoiding supercorporation, the offshore-owned luxury properties used to launder money, and the untraceable dark money circulating at home and from authoritarian states. This makes the world safe for kleptocracy and authoritarianism and harms U.S. national interests by facilitating the corruption of business and political elites at home. It is not just the place where global unfettered capitalism directly impacts the country’s national politics and security but where Democrats need to rise to the challenge. …

“The crisis of the Trump presidency has shown that the boundaries between home and abroad are no longer firm. Undermining the international financial system that empowered kleptocracy, and with it autocrats like Vladimir Putin, requires tracing dirty money through not just the Caymans and Kyiv, Ukraine, but Wilmington, Delaware, and Las Vegas. The most vital step Washington can take to fight kleptocracy is banning anonymous shell companies within the United States itself. …

“Fighting kleptocracy is at the heart of an internationalist foreign policy that recognizes that the modern world is deeply interconnected and thus national security depends on understanding and managing these gaps. A Biden administration would have the opportunity to reorient the U.S. alliance system toward these 21st-century challenges by tying U.S. domestic reform with a common set of anti-kleptocratic standards shared with the European Union and the United Kingdom. …

“The battle against kleptocracy is more than a contest over corruption or development in faraway countries. It is a vital front in the war to make the world more habitable for the global middle class, which includes America’s own long-suffering workers. A focus on kleptocracy is a first step to reconciling U.S. domestic and foreign policies and making the world more just, and safer, for Americans and others.”

A new administration can make the changes needed to break a rotten global system.

One thought on “Biden’s going to have a big to-do list

  1. Ugh, it’s worse than that. It’ll take four years just to clean up the damage Trump has done, i.e., get us back to the kleptocracy-friendly state of 2016.

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