Let's say this was SomewhereElsistan and they elected someone who just cancelled contracts, backed out of treaties, refused to pay balances, fired entire departments and maybe even arrest your international colleague working there and sent them to a foreign concentration camp.
Afterwards they elect Johnny Reasonable who doesn't do this.
Would you go back with any kind of assurance it wouldn't happen again? Nobody stopped the first guy.
The US reputation in international markets is hosed for decades unless some dramatic reversal and patching comes in, by both Congress and the courts or some wild thing where the states override the federal government somehow.
Otherwise the trust is gone for decades, perhaps forever.
He basically cleaned whole route for world dominance for China. All they have to do is to be more friendly to Europe, rest of Asia and literally rest of the world, thats enough. Just a bit friendly, nothing more.
Once oil starts trading in parallel in RMB, the only thing going for US will be waning momentum and its military, while China will be in reverse situation.
Just like putin being arrogant and aggressive about Ukraine wanting to join NATO, causing Finland and Sweden to join (which they wouldn't do otherwise), he is causing what he is causing. I am fixing my floating mortgage on monday, we have currently 0.2% SNB rate but the risk of it shooting up is massive.
Let's say this was SomewhereElsistan and they elected someone who just cancelled contracts, backed out of treaties, refused to pay balances, fired entire departments and maybe even arrest your international colleague working there and sent them to a foreign concentration camp.
Afterwards they elect Johnny Reasonable who doesn't do this.
Would you go back with any kind of assurance it wouldn't happen again? Nobody stopped the first guy.
The US reputation in international markets is hosed for decades unless some dramatic reversal and patching comes in, by both Congress and the courts or some wild thing where the states override the federal government somehow.
Otherwise the trust is gone for decades, perhaps forever.