Around the world, in every boardroom and government office, people are trying to make sense of what Donald Trump’s victory on November 5th means for their company or their country. This week we do the same. Our cover package includes a look at Mr Trump’s appointments to high-profile posts, such as Matt Gaetz, Pete Hegseth, Marco Rubio, Mike Waltz and Elon Musk. These appointments attest to Mr Trump’s desire for disruption, a hard line on China and absolute loyalty. 

We have taken a close look at what all of this means for the world economy. The conclusion markets seem to be drawing is that things will work out just fine. And indeed Mr Trump’s commitment to deregulation may be good for growth. But the same can’t be said of his plan to deport millions of irregular migrants and impose sweeping tariffs, especially on China. Soon the hyperbole of campaign pledges will come into contact with the messy reality of governing. Then we will begin to understand the real impact of Trumponomics.