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• Former U.S. President Donald Trump has defeated Vice President Kamala Harris in a surprising election comeback.
• President Biden called for calm and unity, promising an orderly transfer of power.
• Trump's victory was driven by economic discontent, particularly among Hispanics and lower-income households.
• Despite potential challenges, world leaders have pledged to work with Trump during his second term.

In a surprising turn of events, former U.S. President Donald Trump has made a stunning comeback, defeating Vice President Kamala Harris in the recent election. The victory, which was driven by economic discontent, has left many Americans and the world at large in a state of shock and anticipation. President Joe Biden, in a bid to quell the rising tension, urged Americans to bring down the temperature and promised an orderly transfer of power. Speaking from the White House Rose Garden, Biden addressed the staff who were disappointed by Harris' defeat, stating, Setbacks are unavoidable. Giving up is unforgivable. A defeat does not mean we are defeated.

Biden's Call for Unity Amidst Criticism

Biden's call for calm and unity was an implicit rebuke of Trump, who had sought to overturn his 2020 defeat to Biden and raised baseless claims of fraud during this year's campaign. Biden emphasized the integrity of the U.S. electoral system, stating, It is honest, it is fair, and it is transparent. And it can be trusted, win or lose. In a gesture of goodwill, Biden invited Trump to the White House, a courtesy that Trump did not extend to Biden in 2020. Trump's campaign confirmed that the president-elect would attend the meeting. In the weeks ahead, Trump will select personnel to serve under his leadership.

However, Biden's call for unity and his promise of a peaceful transition did not quell the criticism from some Democrats who blamed him for Harris' defeat. They argued that Biden should not have sought reelection, especially after a disastrous TV debate with Trump raised concerns about his mental fitness. Despite the defeat, Biden and Harris urged Democrats to continue to fight for what they believe in. Harris, in her address, promised to aid Trump's transition before his inauguration on Jan. 20.

Trump's Victory and Its Global Impact

Trump's victory was surprisingly decisive, underscoring the discontent among Americans with the economy, particularly inflation, border security, and the direction of the country and its culture. His victory was fueled by Hispanics, traditionally Democratic voters, and lower-income households hit hardest by inflation. Trump's return to the White House will see him face far fewer limits on his power, as he now heads a Republican Party that he has remade in his image over the last eight years. Republicans also wrested the U.S. Senate from Democrats in Tuesday's vote, ensuring Trump's party will control at least one chamber of Congress next year.

Trump's victory was also reflected in the global markets. World stocks gained after a record rise for U.S. shares overnight, and U.S. Treasuries remained under pressure as investors processed the impact of a second Trump presidency. Wall Street executives expected smaller government, broad deregulation, and tax breaks for corporations and the wealthy. As Trump begins his second term, he is expected to revive policies he favored during his first term, notably tariffs that he has called the most beautiful word. This could set him on a collision course with China, the world's second-largest economy, sow discord with allies, and roil global industries from automakers to chipmakers.

Despite the potential challenges, world leaders have swiftly pledged to work with Trump. Russian President Vladimir Putin congratulated Trump on his victory and expressed readiness for dialogue. German Chancellor Olaf Scholz also emphasized Germany's commitment to the transatlantic relationship and noted that the European Union had already taken on more responsibility for security and energy, which are common interests with the United States.

As the dust settles on this historic election, the world watches with bated breath to see how Trump's second term will unfold. The former president's return to power is a testament to the unpredictability of politics and the enduring power of economic discontent in shaping electoral outcomes. This election serves as a reminder of the dynamic nature of democracy, where the will of the people ultimately prevails, regardless of the challenges and controversies that may arise.