The end of the American Obligation goes beyond Trump

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The writer is the chairman of Rockfelller International. The latest book ‘What’s wrong with capitalism‘

Many of Donald Trump’s chosen to the White House is seen as a great impetus for the “American Exchancer HEAD”, during this period in this period during this period during this period. These sudden turns are connected to Trump. If Washington is not for daily dramas, they think that the US markets will still escape from the rest of the world.

In America’s exclusive part, the Balongcuk presents the second term of Trump for a longer term. After built the global markets for years, many showed the classical signs he chose because the new presidential policy would attract more capital to the United States. However, this type of irrational filter was forced to pop in the first pound. If not the noise of Trump’s early days, another few shock provoked investors to re-thinking that we have recorded records of US assets.

Following the decrease in the last month, the true value of the dollar is rarely highly seen in the end of the fixed exchange rate in the early 1970s. Meanwhile, S & P is less than 10 percent of the peak of the February, and is still 25 percent of the tradingman from the trend line in the last 150 years.

Despite acute rally in Europe and Chinese shares this year, US shares is assessed He is headed by the most widths in a 50 percent prize of international markets – close leadership. Although the share of global GDP is less than 30 percent, the main company of the main global market is more than 60 percent of the Benchmark.

In short, the overdue balancing of global markets began again and can play for a long time.

You thought the headlines, investors preferred to the extreme uncertainty, which covers Trump tariffs and policies. However, the surrounding of America’s exclusive is built in the economic growth of the United States, which was surrounded by artificially intensively Mass State Expenses and an unprecedented boom in capital expenditures in artificial intelligence. The United States economy has not previously depended on the government and has not been sustainable by 6 percent of budget deficit. Meanwhile, the latest financial reforms in Germany and the use of cheap AI models in China, demonstrate that the rest of the world can compete with the United States.

To act so far US Capital Leads with fast money supply, including hedgeon funds. Many should still watch. Like consumers and small business research, confidence decreases, American retail investors continue to receive immersion. Every day, they poured more money on the US shares (but one) prices reached the summit in late last month. Often, they use the most aggressive vehicles available as existing ETFs.

Foreign investors from Australian pension funds to Japanese insurance companies continue to move to the United States. In recent years, more than 80 percent of the money put into stock funds in the world went to the United States. In the last ten years, increasing the holdings of American capital to $ 20 billion, foreign citizens are now higher than 30 percent of the United States.

Taking into account his views on the throats of the dollar, he left the US valy as usual as usual and hedged with difficulty they were exposed. For decades, the country has a great international investment deficit, Americans in the United States are more active than foreign citizens. At the beginning of ten years, this deficit increased by 50 percent of the United States GDP in a level that often expressed a currency decline in the past. And today the deficit is even wider, 80 percent of GDP, and other developed economies have already increased mainly.

In the past, the shares around the world, when the US market is improving, the country tends to do good work when it is weak. This tie has been broken in recent times as a hype around America’s money and life sucked out of other markets. The connection was broken, only now the United States worsens and other nations should stumble.

European stock exchanges had the best month for foreign receipts for ten years. Japan also attracts the flow. Developing markets are no longer falling by the US market. Asks to the United States economic and market advantages, the American will continue to fade in the world, as it spreads to the world’s extensive investors. It may be difficult to believe, but many of the many forces in the game are greater than Trump.