Tags: United States | benefit | de-globalization | Commonwealth Financial

Strategist Brad McMillan: Russia's Isolation Good for US

By    |   Wednesday, 26 March 2014 11:44 AM

Countries are increasingly disconnecting from the world economy, and that's going to boost the United States, says Brad McMillan, chief investment officer for brokerage Commonwealth Financial.

"Russia is the new poster child for a de-globalizing world, which will result in less economic efficiency and a lower standard of living in many countries," he writes. "Fortunately, the U.S. will be positioned to benefit from this."

Russia's intervention in Ukraine has disconnected Russia from the world economy, McMillan says.

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"With the world now more globalized and interconnected than in the past, a correction was overdue," he writes. "Russia is one example of this. Another is China, which is attempting to shift from export-driven growth to growth supported by domestic demand."

The United States too is pulling back from globalization, with the explosion of our energy industry and the return of manufacturing here, McMillan says.

The United States should thrive because the advantages of trade flow most strongly to the nations that gain employment through trade, and that has been emerging markets in the past few decades, he says.

While the United States may benefit from de-globalization, Russia's economy is at risk of a downturn from the sanctions imposed by the United States and Europe in reaction to Russia's action in Ukraine, economists say.

Russian banks including state-run VTB Capital predict the world’s ninth-largest economy will suffer a recession, Bloomberg reports.

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Countries are increasingly disconnecting from the world economy, and that's going to boost the U.S., says Brad McMillan, chief investment Officer for brokerage Commonwealth Financial.
United States,benefit,de-globalization,Commonwealth Financial
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2014-44-26
Wednesday, 26 March 2014 11:44 AM
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