What the rest of the world is mainly doing is jockeying for position while watching America rapidly lose global reserve currency status.
It is happening far more quickly than I think the vast majority of people without privileged information imagined. Trump wants a weakened dollar and is getting it. No one wants this to happen overnight; the instability this process is allowing and will cause is risky enough. Everyone wants to avoid simmering global conflict erupting into WW3. Well maybe Putin is up for it, I don't know. The US is a belligerent ally, and has the biggest military in the world so it is about treading lightly and hopefully preparing.
It is about minimising risk, eating shit giving in to Trump's pathetic demands for fealty, while preparing for the new economic order to emerge. America cannot pay its military without everyone trusting it enough to buy its debt. America cannot pay its debts without its military supporting the dollar. So it is a tricky unwinding of decades of geo-political norms. The world cannot wait to see who America votes for every four years for global stability, so it is done. It is clear to me that very few Americans I came into contact with online ever appreciated this balancing act, or how important their vast military spending was to their country's wealth post ww2.
I feel bad for the average non-Trump voting American because as a Brit I can tell you that there is always resentment that plays out once a country loses that reserve currency status. A people can make a mistake, but a second Trump vote is unforgivable. It is America throwing itself off a cliff economically, over the longer term. Billionaires are clearly getting stuck into filling their boots - this collapse is going to make some people very rich.



