New Delhi, May 5 -- President Donald Trump's trade tariff pronouncements, marked with unpredictability, abrupt shifts, and a confrontational and bullying tone, help us realise that we live in "interesting times". This phrase has gained popularity in English-speaking contexts to convey the idea that turbulent, unpredictable periods-while seemingly exciting-are often filled with hardship, instability, and conflict. Coping with interesting times needs us to step back and look at broad trends to understand underlying processes that will help us navigate a fast-changing situation.

The French economist Frederic Bastiat famously warned, "When goods don't cross borders, armies will." This belief-that trade fosters peace by economically integrat...