The Road Ahead: The Future of Irish-US Relations
Change is a constant variable of today’s fluid investment environment. Indeed, the first half of the 2020s was among the most volatile and unpredictable times in recent memory. And the second half of this decade will not likely be any different. Globalization is on its backfoot, deglobalization is on the rise, creating challenges for large and small nations alike.
That said, another constant of today is the depth and durability of Irish-US commercial relations. Both parties are deeply embedded in each other’s economy, creating mutual benefits for all stakeholders on both sides of the Atlantic. Even with the aftershocks of this decade, the partnership not only endures but continues to thrive. The transatlantic economy remains the largest and wealthiest in the world and a source of prosperity and development for its citizens. And within this framework, Irish-US linkages remain solid.
Despite cyclical forces that have depressed transatlantic bi-lateral trade and investment flows, the structural underpins of Irish-US commerce remain thick and deep—supporting economic growth, earnings, jobs, incomes and a host of other benefits. The digitalization of the global economy, in addition to the coming revolution in artificial intelligence, portend even deeper integration between Ireland’s tech savvy economy and US technology leaders. In the end, Irish-US bonds are set to become stronger, not weaker, as this decade progresses.
In part this reflects the fact that US multinationals remain among the most globally-minded entities in the world; they go where there are opportunities for growth, with Ireland among the first ports of call. At the heart of US corporate interests in Europe will be Ireland. Given multiple attributes that make the nation among the most attractive in the world for foreign direct investment, Ireland is well placed to remain the critical link not only between the United States and Europe but also the United States and the world.
Ireland is well positioned to serve as a transatlantic hub linking the world’s largest economies. Over the past few decades, the nation has been transformed into a full-fledged global partner of Corporate America—a critical link in the global success of some of the world’s most dynamic and innovative firms. Irish-US linkages are among the deepest in the world, a depth that will survive our times of tumult and uncertainty.
