We are able to export much of our inflation to other countries because we have the world’s reserve currency, but even that has its limits. Our irresponsible fiscal policies could very well lead to the dollar losing its position and other currencies,(or a basket of currencies or IMF drawing rights ect) slowly usurp our position as what is happening now. Biden’s confiscation of Russia’s foreign currencies held in Central banks is only going to accelerate this process.
As long as we maintain the reserve currency all is ok. Russia tried to get a bric system up and is paying the price. China has a better chance to do it and may use that in their Taiwan coming escapade. Putin over shot his runway in Ukraine albeit they can probably achieve a level of achievement unless dummy here commits our military which would be a disaster. Meanwhile we are dell eating our resources aiding the proxy war. China is getting stronger. Interesting times.