Glenn’s Substack • 2318 implied HN points • 02 Oct 24
- The US faces a serious economic crisis due to high debt levels and declining fiscal responsibility. The country has been unable to effectively address these financial issues since the 2008 crisis.
- Efforts to boost US competitiveness, like subsidies and sanctions, often backfire and may harm the economy more. In contrast, countries like China are gaining strength by diversifying their economies and forming new partnerships.
- As the US struggles, other countries are building a new economic system that doesn't rely on America. This shift might create a world where multiple powers coexist, rather than one dominant force.