The New Economic Order: Insights from the 2025 DealBook Summit

The 2025 DealBook Summit, held in New York, highlighted a significant transformation in the relationship between the U.S. government and the private sector. During discussions, including a notable exchange with Scott Bessent, the Treasury Secretary, it became evident that the federal government is now perceived as a primary decision-maker in various sectors, including trade, technology, and energy. This shift suggests that private ambitions increasingly align with public policy, with business leaders acknowledging the necessity of government support for their initiatives. Larry Fink, CEO of BlackRock, emphasized that the future of the crypto industry hinges on the administration's backing, stating, “Tokenization is inevitable,” but only with governmental permission.

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Amidst this evolving economic landscape, concerns were raised regarding the U.S. approach to international relations, particularly in relation to China. A task force titled "The Global Reorder" featured discussions led by former officials, including Mark Esper, former Secretary of Defense. Panelists expressed disappointment over President Donald Trump’s disregard for a rules-based international order and the implications of his tariffs. Esper articulated the need for a comprehensive strategy to counter China's growing influence, labeling it “the greatest threat we face this century.” Fareed Zakaria, a CNN host, echoed these sentiments, highlighting China's dominance in critical global markets.

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The summit also addressed the challenges faced by chief executives in the current economic climate characterized by rising tariffs and uncertain trade patterns. A panel of six executives discussed the importance of finding value and purpose in their roles, despite the pressures of financial performance. Beth Ford, CEO of Land O’Lakes, shared her perspective on the human dimension of leadership, emphasizing her commitment to supporting member farmers amidst economic hardships. The executives collectively acknowledged the loneliness of leadership and the responsibility they bear for their employees' welfare.

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The discussions at the DealBook Summit underscored a consensus among business and political leaders about the need for alignment between private sector goals and government policy. The sentiment expressed by various panelists indicates a recognition of the U.S. government's evolving role as a key player in economic decision-making.

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Critics of the current administration's approach to international relations voiced concerns about the lack of a cohesive strategy to address the challenges posed by China. The absence of strong alliances and a rules-based order was a recurring theme, with many experts fearing that the U.S. is compromising its global leadership position.

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• “Andrew, there is no new normal,” — Scott Bessent, Treasury Secretary

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• “I was hoping we’d see a comprehensive strategy working with allies and partners to confront China, principally in the security realm, but in every other space as well,” — Mark Esper, Former Secretary of Defense

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• “the first real peer competitor the United States has ever had,” — Fareed Zakaria, CNN Host

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The 2025 DealBook Summit revealed a landscape where the U.S. government is increasingly intertwined with business interests, raising questions about the future of global leadership and the role of American alliances in countering emerging threats.

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