From ‘dead’ economy to ‘hottest’: Trump pitches US as economic engine of the world at WEF; ‘most dramatic turnaround…’

US President Donald Trump on Wednesday addressed the World Economic Forum (WEF) at Davos in Switzerland, pitching the American growth story and calling it a miracle. Praising his administration, Trump spoke of how he believes the US has gone from being a ‘dead economy’ to the ‘hottest’ in the world in a year.“Today, after 12 months back in the White House, our economy is booming. Growth is exploding, productivity is surging, investment is soaring, incomes are rising. Inflation has been defeated…United States is in the midst of the fastest and most dramatic economic turnaround in our country's history,” Trump said.Criticizing his predecessor Joe Biden, Trump said, “Under the Biden administration, America was plagued by the nightmare of stagflation, meaning low growth and high inflation, a recipe for misery, failure and decline.

But now, after just one year of my policies, we're witnessing the exact opposite, virtually no inflation, and extraordinarily high economic growth.”

Trump: US is economic engine on the planet

Talking about Wall Street, Trump said that the stock market has hit new record highs 52 times since the election.“We were a dead country. Now we are the hottest country anywhere in the world. In fact, the United States economy is on pace to grow at double the rate that was projected by the IMF just last April, and with my growth and tariff policies, it should be much higher.

I believe we can be much higher than that,” Trump said.Calling US the ‘economic engine on the planet’, Trump said, “...when America booms, the entire world booms. It's been history."He further remarked that parts of Europe have changed so dramatically that, in his view, they are no longer familiar. “Certain places in Europe are not recognizable frankly anymore. They’re not recognizable,” he said.Expressing concern about Europe’s trajectory, Trump added, “I want to see Europe go good, but it’s not heading in the right direction.” He attributed Europe’s difficulties to an emphasis on green energy policies and large-scale migration.