More seriously, the worry is that America is abandoning the economic leadership that saw it champion free markets. Here is Erik Nielsen of Unicredit, an Italian bankI don’t think we can escape the conclusion that “the free world” has lost its leader. After all, a leader needs followers, and who’ll follow someone whose guiding principle is “me first”? To define his “America first” mantra, President Trump announced “two simple rules: Buy American and hire American”, and he promised that “America will start winning again, winning like never before”. Donald Trump’s world is principle-free and transactional. Every interaction is a zero-sum game with a winner and a loser—and the US will win “like never before”. Good luck, trade negotiators from the rest of the world…