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Trump in touch with working class, elites are not: Advisor

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Press Trust of India Davos
As rich and powerful discuss the future of the US and the world under Trump Presidency, his key advisor here today said the President-Elect is in touch with the working class, which "elites" are not.

Anthony Scaramucci, who is part of Donald Trump's Presidential Transition Team, also said Trump wants to re- organise NATO to better reflect the current global political climate.

Besides, he said the US would want to have a "phenomenal relationship" with China.

"Donald Trump is in touch with the working class, while elites are not," he said in an apparent dig at what he termed as "global elite" attending the annual Davos meeting of the World Economic Forum (WEF).
 

Trump will be sworn in as US President on January 20.

"We may not like the way Donald Trump communicates here, but he communicates to a large population.

"Donald Trump loves people -- this is what you want in the US President," Scaramucci said.

In the United States, he said, eight million people have gone from working class to working poor and there is a need to come up with policies to change that.

Scaramucci, a hedge fund manager and Skybridge Capital founder, said the new government will focus on growth and spreading benefits beyond the elites through infrastructure spending, overhauling tax laws and less regulations.

Talking about the financial crisis, he said, "We all got through the crisis... We are all worth at least as much or a little more, but the common person has really struggled".

Days before Trump assumes office, Scaramucci also asserted that the Federal Reserve's independence will be upheld but cautioned policy markers about dollar appreciation.

He said that if things play out the way we would like it to, there would be better-than-expected growth, a simpler tax code, an invigorated middle class and working class, where purchasing power goes up.

The virtuous circle of consumption will take place and growth will solve many of the problems that are on the table, he added.

Referring to Trump's comments about the NATO alliance being "obsolete", Scaramucci said it shows how the world has changed but does not mean that it (NATO) has totally lost relevance and is still working.

"NATO (North Atlantic Treaty Organisation) is working but there are things about it that need to change and there are parts of it that are, in the words of Trump, 'obsolete'", he noted.

"We have to think about changing the (NATO) treaty to front face the 21st and 22nd centuries," he added.

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First Published: Jan 17 2017 | 7:42 PM IST

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