US economic dominance --
-- is fading. Trump's trade wars make it fade faster.
The US has gone from comprising around 50% of the global GDP in the 1950s to around 25% now.
One of the consequences of on-again-off-again bans and tariffs is that companies try to reconfigure their supply chains to avoid vendors in national economies which they see as unreliable. Unreliable, right now, means Trump's America.
Frederick Kempe: "What's clear already is that friends and rivals are more interested than ever before in exploring alternatives to the U.S.-dominated system. Such a transition would take many years, involve enormous costs and unfold in stages. However, consistent overuse of U.S. economic power has made the unthinkable more plausible."