Trump 2016 was taken less seriously by multinationals, as the anti-globalization wave hasn't fully realized, and corporation were paying lip service to Trump, which the 2016 administration had no choice but to accept it due to only having power in the executive branch.
Trump 2024 is a completely different animal, with control in all 3 branches of government, plus overwhelming voter support in the election. As well as the collapse of globalization (baby boomer retiring reducing demand), and many countries moving to the right at the same time. Reshoring is the correct choice for the next 10 years and beyond, and many multinationals recognize this and have committed hundreds of billions accordingly.
Some of the more recent numbers for the bigger bubble countries
- US June deficit narrowed 16% to 60 billion. deficit with China dropped 30% to 9.5 billion, lowest deficit in 21 years, since February 2004. Now US expects 50 billion per month in tariffs revenue.
- China's trade surplus in June rose to 683 billion, exports to the United States sank nearly 22% year-on-year, exports to Africa and Southeast Asia surged at double-digit rates as Chinese businesses diverted sales to other markets. Chinese industrial profits however, plunged 10% in may 2025.
>Dalio analysis agrees that today China power is rising and the USA is weakening
Ray Dalio knows nothing. US just put tariffs on every other country in the world. And threatened China with 145% tariffs to get them to come to the table and open up Chinese market even more, even though China is in its own Great Depression right now.
1.) customers who don't know about the practice, now expect food right away for very cheap price, which bankrupts traditional restaurants that cook from fresh ingredients. An analogy could be off the shelf software or custom software losing sales to vibe coded software
2.) customers who do know about the practice, stops ordering food altogether, due to food issues (prepared ingredients are very low quality, oil could be very dirty) or they could cook prepared food at home in their own microwave for even cheaper. An analogy is programmers coding their own software using vibe coding.
3.) declining quality of food, and less and less people eating out in China. It's gotten so bad that now hotel restaurants, which would be the fine dining options, are setting up food stalls in the street to sell cheap but freshly cooked food, in order to get people into the hotel restaurants. An analogy might be softwares with per seat pricing changing to action based pricing for an initial period.