Economic Historian Tooze: "The Era of Comprehensive US Dominance Is Over"

Wirtschaftshistoriker Adam Tooze, speaking to DER STANDARD, delivers a stark assessment: the United States' period of unchallenged global dominance has concluded. Tooze dismisses the notion that President Trump possesses the strategic depth to employ military actions in Iran or Venezuela as a means to counter China and preserve American hegemony. Instead, he expresses concern over the trajectory of escalating US debt, noting the scarcity of historical precedents for such a situation. The ongoing discussions at the International Monetary Fund's spring meeting in Washington underscore these global imbalances, particularly the stark contrast between China's burgeoning trade surplus from exports like machinery and electric cars, and America's persistent, massive trade deficit. This shift challenges traditional views of global power dynamics and signals a new, uncertain economic landscape.