With the conclusion of the U.S. presidential election, Donald Trump has been confirmed as the 47th president of the United States and will be once again enter the White House. The Department of Political Science at Chung Cheng University invited Yu-Shan Wu, an academician from Academia Sinica, to give an in-depth analysis of the structural factors behind Trump's return to power. Focusing on hegemonic competition, mercantilism, and the rise of right-wing populism, the lecture led students to think deeply about the meaning behind “Trumpism” and the challenges it poses to Taiwan.

Yu-Shan Wu first analyzed the U.S. presidential election, pointing out that in terms of the economy, Trump has been more effective than Biden in stabilizing prices and winning the support of many lower-middle class citizens. On the issue of illegal immigrants, Trump's tough policies during his administration have resulted in a significantly lower number of illegal immigrants than during Biden's time. In addition, Biden's bizarre behavior at the G7 summit and his slip of the tongue at the U.S. presidential debates have led Americans to question whether Biden's health was still capable of carrying out the high-pressure job of U.S. president.

“Trump has never lost [popularity],” said Wu, observing that in the three elections of 2016, 2020, and 2024, Trump's popular vote and the number of electoral votes he received showed an upward trend, indicating that Trump has gained the support of more and more voters. Given Trump's amazing ability to attract votes, he has forced his opponents to follow his policy model, leading to the general “Trumpization” of American politics.

According to Yu-Shan Wu, “Trumpism is not a phenomenon of one person, it is a phenomenon of one country. Many people think that Trump has changed America, but in fact it is the changes in America itself that have created a president like Trump. He believes that Trump is a mirror of contemporary America, and that his words and behavior reflect to a large extent the current state of affairs in the U.S. Through Trump, we can see the whole picture of the U.S. more clearly.

Yu-Shan Wu believes that there are three reasons for the emergence of “Trumpism.” First, American hegemony is being threatened by China, which creates a sense of crisis, and in the future there will be a shift in hegemony and competition. In addition, U.S. industries have been overtaken in many important areas, leading to the emergence of mercantilism, protectionism, and industrial policies. Third, the deterioration of income distribution within the United States and the serious unemployment of traditional laborers will lead to the emergence of anti-establishment, anti-immigration, and right-wing populist policies.

As to the conflict between hegemonic competition, right-wing populism and mercantilism, which is more important to Trump? Analyzing Trump's support for the auto unions, his refusal to join the Trans-Pacific Partnership (TPP), the Japanese steel incident, and his withdrawal from NATO, Wu pointed out that right-wing populism is the most important route for Trump, as it motivates him to capture the votes of lower-middle class workers and consolidate his regime. The next important line is the line of mercantilism, and finally the hegemonic competition will be considered.

Finally, Yu-Shan Wu left some questions open-ended, leading the students to think, under Trump's logic of thinking, would Trump help Taiwan for the sake of hegemonic competition, or would he care more about whether Taiwan earns U.S. money or U.S. domestic votes, and how should Taiwan deal with itself.