The fragility of US power was clear when a small Chinese startup released the DeepSeek machine learning program. The US stock market Nasdaq shuddered, with technology stocks collapsing. This collapse is not a minor matter for the US economy. During the post-COVID-19 inflation (2021), foreign investors began to slow down their purchase of US debt. Then, after the US seized USD 600 billion in Russia’s foreign exchange assets (2022), many central banks moved their own holdings away from the long-arm jurisdiction of the United States. US Treasury bills languished.

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