From left: US President Donald Trump, Democratic candidate Joe Biden and President Rodrigo Duterte.
A Trump victory means that his brand of “America First” will not only continue but be reinforced. A Biden victory means a reversion to neo-liberalism that has defined the US since the end of World War 2. How this will evolve in the post-Covid-19 environment, however, and under a huge debt overhang and amid calls for more government intervention to address social and economic inequality issues, remains unknown. America faces a new social contract problem.