The New Economic Order: Insights from the 2025 DealBook Summit

The 2025 DealBook Summit, held in New York City, highlighted a significant transformation in the relationship between the U.S. government and the private sector. Discussions revealed a perception that the federal government has evolved from a regulatory body to a primary decision-maker in various industries, including trade, technology, and finance. Scott Bessent, the Treasury Secretary, emphasized that the current environment does not represent a "new normal," but rather a fundamental shift where private ambitions increasingly align with public policy. This sentiment was echoed by business leaders, including Larry Fink of BlackRock, who noted that the future of the crypto industry hinges on the administration's support.

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A task force at the summit, titled "The Global Reorder," addressed concerns regarding the U.S.'s foreign policy, particularly in relation to China. Panelists, including former Israeli Prime Minister and former U.S. Secretary of Defense Mark Esper, expressed disappointment over President Donald Trump's approach to international alliances and trade policies. Esper described China as "the greatest threat we face this century," highlighting the need for a comprehensive strategy to counter China's growing influence, particularly in security and economic domains. Fareed Zakaria, a CNN host, underscored China's dominance in critical global markets, further stressing the urgency of a coordinated response from the U.S. and its allies.

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Amid rising tariffs and economic uncertainty, a task force of chief executives discussed the evolving role of leadership in today's business climate. The panel, moderated by David Brooks of The New York Times, included executives from companies with a combined market capitalization of $222.6 billion. They explored the human aspects of leadership, emphasizing the importance of personal connections and employee welfare. Beth Ford, CEO of Land O’Lakes, articulated her commitment to supporting member farmers, reflecting the intimate nature of leadership in challenging economic times.

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Critics of the current administration's policies voiced concerns about the implications of a government-centric economic model. Some argue that this shift could stifle innovation and create an environment where business decisions are overly influenced by political considerations. The discussions at the summit revealed a divide among business leaders regarding the balance of power between the government and private sector.

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During the summit, various leaders articulated their views on the changing landscape. Bessent asserted that the government is now a "senior partner" in economic decisions, while Fink highlighted the necessity of governmental support for the crypto sector. Esper's remarks on China's threat underscored a call for renewed focus on international alliances.

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• “Fink said, suggesting it is “the next generation for markets” — but only with the permission of the administration.” — Larry Fink, CEO of BlackRock

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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 U.S. Secretary of Defense

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• “It’s very intimate to know these families.” — Beth Ford, CEO of Land O’Lakes

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The discussions at the DealBook Summit reflect a pivotal moment in U.S. economic and foreign policy, with implications that could shape the future of both domestic and international business landscapes.

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