All of those are being unwound as we speak, and it’ll take decades to prove to the world that any trade policy and government agreements may be kept longer than 4 years.
The US was quite isolationist up until the end of WW2, so I’d argue global hegemony isn’t that important when it comes to economic performance.
The US growth trend has been fairly constant since the late 1800s. There's no real discontinuity in the trend around the time the US become hegemon.
https://upload.wikimedia.org/wikipedia/commons/0/01/GDP_per_...
Part of why Switzerland is so stable is because of its neutrality. Switzerland doesn't have to deal with Russia interfering in its elections the way the US does.
Trump isn't the problem, he's a symptom.
The recent massive increase in the US governments direct and indirect involvement in business decisions changes things.
Trump is pushing/forcing countries and companies to invest in the US. He's added more restrictions on who they can sell their products. New significant widespread tariffs also exist that forces businesses to decide on how they can handle it while being pressured not to raise prices.
Government involvement in business decisions, even if indirect, is not a market economy. In a true market economy supply and demand should determine prices and businesses and consumers make the decisions on their respective side.
There's also background pressure on businesses to avoid angering Trump and this affects their decision making process.
>attracting talent, innovation,
Trump raised the fee for H1Bs, blocked student visas from 19 countries, and revoked 100k visas for people who were here as students, business reasons, vacation, and other. He also is removing legal status from many groups.
His inflammatory rhetoric and actions have harmed the international reputation of the US. There's also a prevalent anti-immigrant mood in the US and a much smaller
This decreases the pool of people who can choose to come here and for that smaller amount it increases the probability that smart and innovative people may look elsewhere to either study or start a company.
There are also those that had legal status, lost it, and must leave. These are another set of groups that could have contained some talented and innovative people.
Talented immigrants have done so much for our economy and standing in the world. ----
He cut government funding for many scientific research endeavors and government programs. These may or may not be replaced by private industry. It's justified to cut waste as government spending is a problem but speed and extent of the cuts makes it questionable if a proper assessment was done.
----
I'm sure you can point to similar actions in the past but I believe the quantity, speed, and intensity are significantly different than in recent times.
I'm also not arguing that some changes weren't justified. I just believe it's a clear change in the ingredients for the worse.
Lots of money will be spent trying to manufacture a replacement, though. That will be fun to watch. If you thought the last-minute rally around Kamala was tough to watch…
Sure, the republicans will look hilarious trying to replace Trump for a while … but those Americans aren’t going anywhere and will gladly vote for the next Trump whenever they show up, same as they voted for Reagan and Bush II.
The American attitude driving this current period is much deeper and wider than one man, and people thinking it will all go away when one old man steps down are going to be “surprised” when we’re dealing with this again in ten years or twenty years or three years.
