And they know he’s not bluffing.
More bad news for Putin.
Nor are they.
In 1960 we were 40% of the global GDP.
In 2020 we are 20% of the global GDP. We are no longer as significant as we once were.
Meanwhile, the PRC has passed us in PPP and will pass us in GDP in the next 6 years. They are more than TWICE the manufacturing base we are.
We print currency and run massive deficits, and those that use the US dollar are basically paying for our debt as they lose money from inflation. PRC lost something like 600 billion in the course of 2 years a few years back.
Finally, we use our currency in our “economic warfare” games which we engage in at the snap of our fingers. Dependency on our dollar is a vulnerability.
Trump isn’t turning this macro level trend around, and he can’t force others to use our monopoly money. With the war in the Ukraine and going after Russia economically, we set things in motion that can’t easily be stopped.
“And they know he’s not bluffing.”
Trump doesn’t bluff. But give the US dependence on outsourced everything, particularly piece-parts of just about every device made, Trump’s biggest problem is just how much his supporters (along with America-haters) will be able to take.