Saturday 29 April 2017

David McWilliams: Why Trump and Brexit won't spoil 2017 for Ireland

Political class is in spasm, but our economy need not fear turbocharged Trump in office

People perform morning exercises against the backdrop of Shanghai’s financial district. Chinese investment in Donald Trump’s America is likely to cause US assest prices to soar. Photo: Getty
People perform morning exercises against the backdrop of Shanghai’s financial district. Chinese investment in Donald Trump’s America is likely to cause US assest prices to soar. Photo: Getty
David McWilliams

David McWilliams

Most forecasters are arguing that the Irish economy will slow down in 2017 - but there are valid reasons for believing that the economy will accelerate from here.

We are now in the fourth year of a recovery. Normally, this gives rise to worry, because all economies have cycles and most cycles are five- or six-year affairs. Therefore, we should be factoring in a peaking and a levelling off of activity.

There are also the shocks of Brexit and Donald Trump to contend with. Lots of people believe that these political events are, by definition, bad for Ireland economically; I think the opposite will be the case.

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