For those saying it doesn't mean anything, you are wrong. How much of China's govt debt is funded by foreign money? Not much. How much of the US' exploding deficit is funded by foreign money? (25+%). That alone is cause for concern. If foreigners go on a UST buyer's strike, either interest rates rise or money is printed and inflation results. Let's recall what happened to inflation after Trump ran up $8,400,000,000,000 new debt in his first term. Biden had to deal with the resulting inflation. The decline in the world's view of the US is going to cost money. The second thing is trade. Canada is already making trade deals with China, owing to Trump's capricious and ever-changing tariffs. Everybody is looking to build new partnerships without the US. Trade will also increasingly be handled in currencies other than the dollar, threatening the dollar's reserve status. Oh, and what's the "Greenland" or "51st State" with regards to China? China is not alienating neighbors and allies with silly talk, like Trump is. Also, folks see the US is being run by a corrupt, self-serving Administration led by someone in serious cognitive decline, albeit with no guardrails. "The Islamic Republic of Japan"? Trump also showed the capricious nature of policy, like when he said re Spain, "cut off trade....and no visits". Rutte just smiled at that absurdity. The effect isn't just on the public sector. France has already prohibited its govt employees from continuing to use Microsoft Word and Excel. There is talk of govts banning the use of messaging apps owned by forms who grovel to Trump, like Mata's WhatsApp. The EU is developing and deploying more satellites, so they don't need things like Starlink. Countries will likely shy away from depending on anything US made...which would change the status of the US equity market's current AI boom (unless maybe Elon Musk figures he can capture the Martian market with Teslas, rocket launches, internet and robots). Yes, Europe and former allies are building up their defense---though the "5% of GDP" or whatever it is in NATO is a useless number, given the fact not all countries will have the same cost overruns, pork and inefficiencies that are the hallmark of the US defense industry. Plus, the major lesson of the Iran War (besides the fact Trump is an idiot who has gotten everything wrong), is that a $30K drone can be as effective as $1.5 million Tomahawks, or can take out $1.3 billion THAAD systems. More money does not necessary translate to victory on the battlefield, and certainly does guarantee victory in the war itself. NATO can build up to an effective deterrent level at a fraction of the cost of the US defense spending. If Hegseth's request for a $1.5 trillion budget is passed, the US will be spending more than the next 28 nations combined...yet it can't even beat Iran. So even if NATO builds up its military, they are increasingly likely to do it by buying local. The US defense industry---even commercial/military firms like Boeing---are going to take a hit in decreased sales. After Trump switched planes, leaving "Grift Force One" behind in Turkey, the remaining G7 members met to discuss (likely laugh at Trump) matters. France President Macron said, "there is no going back" (meaning the historically close relationship with the US). It won't all hit at once, but this "opinion" certainly seems to signify the decline of the American empire and its influence. Non-Americans might still buy rap music (though K-Pop is on the rise even in the US), but the orders for products and services from US manufacturing and tech are going to slide. Ships deserting a sinking rat.
