Trumponomics What Munich Means for the Shifting Global Order
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Feb 18, 2026 
John Micklethwait, Editor-in-Chief of Bloomberg News, leads the conversation with Jennifer Welch, Bloomberg Economics' chief geoeconomics analyst. They unpack Marco Rubio's rising influence in Washington and Europe's rethink on defense and nuclear deterrence. They also probe shifting transatlantic ties with China and the economic risks of conflict in the Taiwan Strait.
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Rubio's Style Bridges Divides
- Marco Rubio presents Trumpian policies with a more conciliatory style that appeals to Europeans.
- John Micklethwaite says Rubio has grown into a significant, confident figure within the administration.
Success Raises Rubio's Stakes
- Rubio has expanded responsibilities and used successes, like on Venezuela, to build influence.
- Jennifer Welch warns rising prominence increases political risk within the Trump administration.
Europe's Awareness Outpaces Action
- Europeans broadly recognise they must 'step up' as U.S. reliability is questioned.
- Jennifer Welch notes awareness exists but clear pathways for coordination remain lacking.