Dhaka, March 28 -- The world's major growth engines are about to run in reverse. The policies and uncertainties of US President Donald Trump's second administration have hit a sluggish global economy with a transformational exogenous shock. Risks are especially worrisome in both the United States and China, which have collectively accounted for a little more than 40% of cumulative global GDP growth since 2010.

America is now the problem, not the solution. Long the anchor of the rules-based international order, the US has turned protectionist, posing major risks to an already fragile global trade cycle. At the same time, Trump's MAGA ("Make America Great Again") movement has driven a powerful wedge between the US and Europe and divided No...