As I understand things, US treasury debt (sold as bonds) now exceeds $40trillion, which is a huge number. Combined with high interest rates, this creates an enormous and worsening problem in the USA. The US economy is very big, but servicing this debt is a real problem. The debt is still growing.
The US dollar has been the reserve currency of the world since WW2. What would happen if China decided to buy oil in the Chinese currency (Yuan) instead and the rest of the world followed!!
I am no economic expert, but I can see China becoming the dominant world power and the sun setting on the USA. In the Middle East, the USA is seen as not providing security and putting Arab countries more at risk.
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