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World economy grows wary of US
The gist
The world economy is increasingly looking for ways to distance itself from the United States.
The shift matters because the dollar and U.S. bonds underpin global finance.
How it unfolded
- Sep 12, 2026Global economic policy expert Jeffrey D. Sachs said countries should not hitch their ship to the US, arguing Trump does not make sense while BRICS makes sense, and that the West is losing its hegemony.
- Sep 16, 2026Treasury Secretary Scott Bessent testified before Congress that he remained confident in the credibility of the U.S. financial system, saying bond auctions continue to operate successfully and the dollar is still thriving by its share of global transactions.
- Sep 16, 2026Retail sales rebounded strongly in August even as people are wary over the economy; consumer spending makes up about two-thirds of the U.S. economy.