It's interestingly too see that the summit of the Long Wave (economic cycle from 50 - 60 years) is leading to geopolitical unrests. Around the summit in the 70s the US abandoned the gold standard and John Connally told Europe 'the dollar is our currency, but your problem'. It was a motivation to create the Euro. Today, we see the same with geopolitical security. The US , and the EU are drifting a little bit more apart. The EU probably will make sure that they have to rely less on the US for geopolitical security. And hopefully more self-sufficient in terms of innovation. Btw less globalization also means higher inflation.