The 2024 U.S. presidential election has culminated in one of the most tumultuous and divisive outcomes in recent American history. Donald Trump has secured a landslide victory, winning 270 electoral votes against Kamala Harris’s 224, thus becoming only the second Republican president in two decades to clinch a second term—the first being George W. Bush from 2001 to 2009. This election was not merely a domestic affair; it served as a global barometer, reflecting and influencing socio-political dynamics across the world.

Trump’s triumph is emblematic of the enduring strength of populist rhetoric and the persistent appeal of an “America First” agenda. His victory in key swing states, often the battlegrounds that determine the electoral outcome, highlights a significant realignment in the American electorate. These states, previously leaning towards progressive policies, swung decisively towards Trump, signaling a robust support base that remains loyal despite widespread controversies and policy debates. Trump's platform promises further deregulation, particularly in the energy and real estate sectors, aligning closely with corporate interests that have long benefited from reduced governmental oversight. This continuity suggests a reinforcement of neoliberal policies that prioritize market dynamics over collective civic welfare, perpetuating an economic status quo that favors corporate profitability over public good.

The election campaign was characterized by extreme polarization, with both sides entrenched in their ideological stances. The intense partisanship was not merely a reflection of differing political ideologies but also a manifestation of deeper societal fractures. The assassination attempts on Trump, though unsuccessful, are stark reminders of the heightened tensions and the potential for political violence in such a polarized environment. These events have further eroded public trust in the electoral process, casting a shadow over the legitimacy of the democratic institutions that underpin American governance.

The chaotic nature of the election also reflects broader theoretical critiques of neoliberalism and its impact on democracy. Neoliberalism, which gained prominence in the 1980s, has redefined political priorities, transforming elections into commodified spectacles where corporate interests and market forces dominate policy-making. The 2024 election exemplifies this transformation, as campaign financing, media manipulation, and branding strategies have turned candidates into marketable brands rather than public servants. Donald Trump’s campaign, with its emphasis on branding and direct communication via social media, underscores the shift towards a market-driven electoral process where economic interests often overshadow democratic ideals.

On a global scale, Trump’s victory carries significant implications, particularly in relation to China and the broader global economy. Trump's administration has been known for its hawkish stance towards China, characterized by aggressive trade policies and efforts to decouple the U.S. economy from Chinese manufacturing and technology sectors. A second term is likely to see an intensification of these policies, which could lead to further economic decoupling and heightened trade tensions. Such measures not only disrupt bilateral relations but also have a cascading effect on global supply chains, potentially destabilizing markets worldwide. Multinational corporations may find themselves navigating an increasingly fragmented global economy, as trade wars and tariffs create an unpredictable business environment.

Moreover, Trump’s approach to international alliances and trade agreements is poised to reshape global partnerships. His administration’s skepticism towards multilateral institutions and agreements, such as the World Trade Organization (WTO) and the Paris Climate Accord, suggests a pivot towards unilateralism. This shift could undermine global cooperation on critical issues like climate change, economic inequality, and international security, leading to a more fragmented and competitive global landscape. Countries that have built their economic strategies around U.S. policies may need to reassess their alliances and trade partnerships, potentially fostering a more multipolar world where power is distributed among various national and regional blocs.

The impact of Trump’s victory extends beyond economic policies to influence geopolitical strategies and international relations. In regions like the Middle East and South Asia, U.S. foreign policy decisions can significantly alter power dynamics and economic dependencies. Trump’s administration has historically pursued an isolationist and transactional approach to diplomacy, prioritizing American interests over multilateral cooperation. This stance can lead to the reinforcement of neo-colonial dependencies, where developing nations find themselves economically and politically constrained by U.S. policies. Trade agreements and military alliances under a Trump administration may continue to prioritize American economic interests, perpetuating systems of economic dependency and limiting the sovereignty of less powerful nations.

Furthermore, Trump’s policies are likely to fuel global economic inequality. His administration’s focus on deregulation and tax cuts for corporations can lead to increased economic inequality, both domestically and internationally. As multinational corporations benefit from favorable tax policies and reduced regulations, wealth concentration may intensify, exacerbating social and economic disparities. This trend aligns with neo-Marxist critiques of capitalism, where economic power is concentrated in the hands of a few, undermining the democratic principle of equal representation and opportunity.

Despite these challenges, there remains a glimmer of hope for electoral emancipation. Social movements advocating for electoral reform, climate justice, and social equity signal a growing demand for a more inclusive and representative democratic process. These movements challenge the dominance of corporate interests and seek to restore the primacy of citizen engagement in the political arena. However, achieving meaningful change requires a concerted effort to dismantle the entrenched neoliberal structures that perpetuate economic inequalities and limit democratic participation.

Donald Trump’s victory in the 2024 U.S. presidential election underscores the profound divisions and chaotic nature of contemporary American politics. The election serves as a critical juncture, reflecting the deep-seated influence of neoliberalism on democratic institutions and global power dynamics. Trump’s second term is poised to reinforce market-driven policies, intensify economic tensions with China, and reshape international alliances in ways that may destabilize the global economy. The election also highlights the limitations of neoliberal democracy, where corporate interests overshadow genuine democratic engagement, perpetuating a system that prioritizes profit over people. As the world watches the United States navigate its political landscape, the 2024 election stands as a testament to the enduring struggle between economic power and democratic ideals, leaving many to ponder the future trajectory of both American democracy and the global order it seeks to influence.

About the Author:
Qaiser Nawab is a youth politician affiliated with the Pakistan Peoples Party (PPP) and a former Deputy Speaker of the Youth Parliament Pakistan. He has served as an international election observer for various national elections around the world. With expertise in international relations, elections, and sustainable development, he is currently the President of the Belt and Road Initiative for Sustainable Development (BRISD). For further contact, please email at [email protected]