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In May of this year, America’s debt surpassed its GDP – something that hasn’t happened since WWII. This phenomenon has divided economists into two camps. One, which is disturbed by the trend, and the second, which shrugs it off and attributes it to a new global norm which shows America is still a global power and can use its strength to borrow from the rest.

Yet when you watch China and see how it operates, it is clear to see that using America’s traditional fortitude around the globe as leverage for borrowing is playing world economics from a position of weakness. China, by contrast, is moving away from debt and building a new economy based on solid dynamics that no one can ignore: gold.

De-dollarisation is no longer just a cool buzzword that journalists like to use to colour their anodyne copy. It’s happening – and being driven by China and BRICS – as many Global South countries are buying gold as well. Perhaps it is worth pointing out that it is also being driven by an incongruent factor that BRICS members didn’t see coming: Trump’s policies.

If Trump could have continued his ephemeral period during the first half of his first term with good relations with Beijing, the state of the U.S. economy today may well not be in recession. But his deluded, belligerent attack on Beijing with his tariffs war has backfired on a scale which is almost comical, leaving him looking like the silver-screen actor Oliver Hardy entirely covered in black soot after a firearm accidentally exploded. When a reality TV actor with an inferiority complex the size of Trump Tower takes office in the White House, the inevitable cull of anyone clever in the room happens. The sycophants were simply unable to tell Trump – even if they knew – that the fight with China was only going to end one way: in disaster, with Americans paying the heaviest price.

China has such a stranglehold on the U.S. economy on so many levels, but where we have seen the real grip that it has is with rare earths required for U.S. missiles. Beijing looks at Trump’s idiotic war with Iran and can only see it positively. Not only has the war reduced the U.S. military to almost a shadow of its former self in terms of capability and threat, but America’s depleted stocks make it impotent when it comes to Taiwan. How is it that before Trump began his stupid tariff war, not one single economist in the U.S. was able to tell him that America needs China much than China needs America – and that the U.S. edge that it once had around the world can be entirely removed by China’s rare earths being simply choked by Beijing, which it did last year? Despite Trump’s recent frantic frenzy of executive orders aimed at boosting America’s domestic production (as well as ramping up those of its allies around the world), Trump’s target of being free of China’s rare earths dependency by January of next year is woefully unrealistic, U.S. experts point out. If the U.S. is successful, it might take a couple of years. Again, like the Middle East standoff with Iran, Trump simply doesn’t have time on his side. What is the point of having a $1.5 trillion defence budget if you haven’t even got the missiles to go with it? Recent reports which focus on USS Abraham Lincoln’s duration at sea – making some sailors suicidal – missed the point. The crisis with the U.S. military is that it is being run by a man-child who considers it to be a tool for his personal amusement to comfort his dire low self-esteem, and who has no clue what he is doing and won’t take advice from people who do.

Trump’s second term in office has broken a number of established norms associated with U.S. presidents, in that in the past foreign policy has always been a place of solace where presidents go to boost their profiles while they achieve little or nothing with domestic politics. In Trump’s case, foreign policy has been a catalyst to failing domestic policy, as both compete with one another for calamitous point-scoring. Trump is a double disaster who has little if any skills whatsoever as a president, and leads a country based on guesswork and what his own ego directs him to do on an hourly basis – with most Americans blissfully ignorant of how the rest of the world regards him.

Recent reports show he has a record low at the polls, yet it is a miracle that he has any support at all given his abysmal success rate at anything he touches. When university students in 30 years’ time study the fall of the U.S. and its demise from global superpower politics, they will focus heavily on Trump’s second term in office, his attempt to overthrow Iran, his tariff war with China, and the Epstein files. They will note that on both occasions when a tranche of these files were released, almost on the same day Trump went to war – firstly with Venezuela and then Iran. They might identify that it was Trump’s insecurities and foibles which led him to be manipulated by an Israeli leader, but most of what students will surmise is that ‘the bigger you are, the harder you fall’ – just as the Suez Crisis for Britain in 1956 was the most embarrassing projection to the world of how the UK had lost an empire and became a shadow of its former self so quickly. For Trump, the embarrassment is the domestic economy, as most Americans are too ignorant to see what he has achieved around the world for America: isolation on a scale never seen before. For Trump’s second term, most of his time now is going to be taken up by deflecting attention growing from the Epstein files and lying about the economy, or finding scapegoats. Blame is going to be a central theme now to his presidency, and a former Fox News presenter is probably going to be the first of many heads which will roll as Trump scrambles to avoid accountability.