Reference News website reported on May 19 that Bloomberg News website published an article titled "Is the Era of 'American Exceptionalism' Coming to an End?" on May 16. The author is David Rovella. The following are excerpts from the article: The market made an embarrassing verdict on Donald Trump's trade war last month, and it may have also accelerated the decline of America's economic dominance. Just weeks ago, the market passed judgment on U.S. President Donald Trump's "reciprocal tariffs." Stock markets, bond markets, and the dollar all plummeted, prompting the 78-year-old Republican leader to retreat. Since then, as the U.S. further retreated and reached a "temporary ceasefire" agreement with China, the market managed to recover its losses. But the damage may already be done. Stocks, U.S. Treasury bonds, and the dollar usually do not fall simultaneously. When there is uncertainty and crisis, U.S. Treasury bonds and the dollar typically strengthen. But now is not normal times. Trump has launched a chaotic trade war, he tried to destroy the U.S. government, and one after another openly defied the U.S. Constitution. These actions collectively undermined the so-called "American exceptionalism." In Bloomberg News' micro-documentary "Is the Era of 'American Exceptionalism' Ending?" we explained why this country's reliance on its economic advantages appears to be coming to an end. Investors choose to seek refuge with "Uncle Sam" fundamentally because of trust. They know that putting their money in the world's largest economy is a surefire safe move. This made the dollar the de facto global reserve currency for a long time, and American influence and power were felt everywhere (whether soft or hard power). Combining all of this, it constitutes "American exceptionalism": this economic state has benefited American citizens for a long time while shielding the U.S. from external shocks. Trump single-handedly brought America down from its pedestal, but he was not the cause of it. For some time, countries around the world have been seeking preemptive measures against the U.S. out of dissatisfaction with American hegemony, concern over America's massive debt, and increasing distrust of Americans and the electoral system. Added to this, the recent surge in the U.S. stock market was only due to a few tech companies, and Trump's next moves brought "toxic uncertainty." Under these circumstances, it is easy to understand why some global investors turned to other currencies, other countries, and gold. Yes, the U.S. remains a major economic power, and the dollar still flows through the arteries of the global economy. But as we explained in "Is the Era of 'American Exceptionalism' Ending?", the world's gradual distancing from the U.S. has been ongoing for some time. Trump's return only accelerated this process. (Translated by Lin Zhaohui) Original source: https://www.toutiao.com/article/7506027601241178633/ Disclaimer: The article represents the views of the author alone. Feel free to express your opinion by clicking the "Like/Dislike" buttons below.