It’s been one year since US President Donald Trump began his second term. Few analysts and investors doubted Trump 2.0 would be more confrontational and disruptive. Still, the ferocity of Trump’s attacks on the rule of law, institutions and US allies have far exceeded the worst fears of his sternest critics.
That a supposed ally is using economic coercion to seize the sovereign territory of a fellow member of Nato shows how fast the unthinkable has become real.
At the World Economic Forum in…